Semtech Co. (NASDAQ:SMTC) Given Average Recommendation of “Hold” by Analysts

Shares of Semtech Co. (NASDAQ:SMTCGet Rating) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $62.00.

Several research analysts recently weighed in on SMTC shares. Cowen cut shares of Semtech from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $65.00 to $43.00 in a research report on Thursday, September 1st. Susquehanna Bancshares decreased their price objective on shares of Semtech to $56.00 in a research report on Monday, August 29th. Oppenheimer lowered Semtech from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 1st. Piper Sandler cut their target price on Semtech from $95.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, September 1st. Finally, Robert W. Baird cut their target price on Semtech from $90.00 to $48.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st.

Semtech Trading Down 2.2 %

Shares of SMTC opened at $31.99 on Friday. The business’s 50-day moving average price is $49.80 and its 200-day moving average price is $57.55. Semtech has a twelve month low of $29.52 and a twelve month high of $94.92. The stock has a market cap of $2.03 billion, a PE ratio of 13.00, a P/E/G ratio of 0.95 and a beta of 1.59. The company has a quick ratio of 3.35, a current ratio of 4.12 and a debt-to-equity ratio of 0.22.

Semtech (NASDAQ:SMTCGet Rating) last posted its quarterly earnings data on Wednesday, August 31st. The semiconductor company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $209.25 million for the quarter, compared to analysts’ expectations of $208.29 million. Semtech had a net margin of 19.94% and a return on equity of 21.18%. Semtech’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share. On average, equities analysts forecast that Semtech will post 2.29 EPS for the current fiscal year.

Institutional Trading of Semtech

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Semtech by 3.7% during the first quarter. BlackRock Inc. now owns 7,160,578 shares of the semiconductor company’s stock valued at $496,515,000 after purchasing an additional 257,224 shares during the period. Vanguard Group Inc. raised its holdings in shares of Semtech by 0.4% during the first quarter. Vanguard Group Inc. now owns 6,480,636 shares of the semiconductor company’s stock valued at $449,367,000 after acquiring an additional 26,683 shares in the last quarter. State Street Corp raised its holdings in shares of Semtech by 4.4% during the first quarter. State Street Corp now owns 2,587,049 shares of the semiconductor company’s stock valued at $179,386,000 after acquiring an additional 107,848 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Semtech by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 1,395,379 shares of the semiconductor company’s stock valued at $124,091,000 after acquiring an additional 58,024 shares in the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of Semtech by 26.6% during the second quarter. Macquarie Group Ltd. now owns 1,251,537 shares of the semiconductor company’s stock valued at $68,797,000 after acquiring an additional 262,930 shares in the last quarter. Hedge funds and other institutional investors own 97.53% of the company’s stock.

About Semtech

(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.

Further Reading

Analyst Recommendations for Semtech (NASDAQ:SMTC)

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