Semtech Co. (NASDAQ:SMTC) Given Consensus Recommendation of “Buy” by Brokerages

Semtech Co. (NASDAQ:SMTCGet Rating) has been given a consensus recommendation of “Buy” by the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $83.27.

SMTC has been the topic of a number of research analyst reports. Needham & Company LLC lowered their price target on Semtech from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, March 17th. StockNews.com began coverage on Semtech in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Susquehanna Bancshares upped their price objective on Semtech from $69.00 to $75.00 in a research report on Thursday, March 17th. Stifel Nicolaus reduced their price objective on Semtech from $102.00 to $95.00 in a research report on Thursday, March 17th. Finally, Zacks Investment Research upgraded Semtech from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective for the company in a research report on Tuesday, March 22nd.

In other Semtech news, SVP Christopher H. Chang sold 6,950 shares of the company’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $70.57, for a total value of $490,461.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mohan Maheswaran sold 25,000 shares of the company’s stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $70.13, for a total value of $1,753,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,700 shares of company stock valued at $3,340,692. Company insiders own 1.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its position in shares of Semtech by 24.3% during the third quarter. US Bancorp DE now owns 28,069 shares of the semiconductor company’s stock worth $2,188,000 after purchasing an additional 5,486 shares in the last quarter. Juncture Wealth Strategies LLC bought a new position in Semtech during the fourth quarter valued at approximately $261,000. Yousif Capital Management LLC bought a new position in Semtech during the fourth quarter valued at approximately $2,977,000. Dupont Capital Management Corp boosted its stake in Semtech by 11.4% during the fourth quarter. Dupont Capital Management Corp now owns 20,007 shares of the semiconductor company’s stock valued at $1,779,000 after buying an additional 2,048 shares during the last quarter. Finally, Cim Investment Management Inc. boosted its stake in Semtech by 100.0% during the fourth quarter. Cim Investment Management Inc. now owns 5,182 shares of the semiconductor company’s stock valued at $432,000 after buying an additional 2,591 shares during the last quarter. Hedge funds and other institutional investors own 96.33% of the company’s stock.

Shares of NASDAQ:SMTC opened at $60.49 on Friday. The company has a market cap of $3.88 billion, a P/E ratio of 31.51, a PEG ratio of 1.43 and a beta of 1.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.91 and a quick ratio of 3.02. Semtech has a 1 year low of $56.00 and a 1 year high of $94.92. The stock’s fifty day moving average price is $64.02 and its 200-day moving average price is $74.92.

Semtech (NASDAQ:SMTCGet Rating) last announced its quarterly earnings results on Wednesday, March 16th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.06. The firm had revenue of $190.60 million for the quarter, compared to the consensus estimate of $189.34 million. Semtech had a return on equity of 17.89% and a net margin of 16.96%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. On average, sell-side analysts anticipate that Semtech will post 2.76 earnings per share for the current year.

Semtech Company Profile (Get Rating)

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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