Semtech’s (SMTC) Buy Rating Reaffirmed at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Semtech (NASDAQ:SMTC) in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a $56.00 price objective on the semiconductor company’s stock.

Other analysts have also recently issued reports about the stock. Craig Hallum initiated coverage on shares of Semtech in a report on Wednesday, June 21st. They issued a buy rating on the stock. Susquehanna decreased their price objective on shares of Semtech from $30.00 to $25.00 in a report on Thursday, June 1st. TheStreet raised Semtech from a d+ rating to a c- rating in a report on Monday, July 31st. StockNews.com began coverage on Semtech in a report on Thursday, August 17th. They set a sell rating on the stock. Finally, Needham & Company LLC upgraded shares of Semtech from a hold rating to a buy rating and set a $35.00 price target for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $38.50.

Semtech Price Performance

Shares of SMTC stock opened at $25.60 on Wednesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.14 and a quick ratio of 1.46. The company has a market capitalization of $1.64 billion, a P/E ratio of -284.44 and a beta of 1.70. The company’s 50-day simple moving average is $26.67 and its two-hundred day simple moving average is $25.17. Semtech has a one year low of $17.82 and a one year high of $35.68.

Semtech (NASDAQ:SMTC) last issued its earnings results on Wednesday, June 7th. The semiconductor company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.10. Semtech had a positive return on equity of 8.83% and a negative net margin of 0.77%. The business had revenue of $236.50 million during the quarter, compared to analysts’ expectations of $235.00 million. During the same period in the prior year, the business earned $0.67 EPS. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities analysts anticipate that Semtech will post -0.06 EPS for the current year.

Institutional Trading of Semtech

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors raised its holdings in shares of Semtech by 1,163.9% during the second quarter. Capital Research Global Investors now owns 4,002,965 shares of the semiconductor company’s stock valued at $101,915,000 after buying an additional 3,686,252 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Semtech by 338.2% during the 4th quarter. JPMorgan Chase & Co. now owns 3,738,949 shares of the semiconductor company’s stock valued at $107,270,000 after purchasing an additional 2,885,729 shares in the last quarter. BlackRock Inc. boosted its position in shares of Semtech by 29.7% during the 1st quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock valued at $291,861,000 after purchasing an additional 2,769,314 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Semtech by 1,088.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,197,956 shares of the semiconductor company’s stock valued at $30,500,000 after acquiring an additional 1,097,196 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Semtech by 1,084.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 999,400 shares of the semiconductor company’s stock valued at $25,445,000 after acquiring an additional 915,000 shares during the last quarter.

About Semtech

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.