Semtech (NASDAQ:SMTC) Price Target Cut to $45.00

Semtech (NASDAQ:SMTC) had its price target reduced by research analysts at B. Riley from $52.00 to $45.00 in a note issued to investors on Thursday, Marketbeat reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target points to a potential upside of 80.14% from the stock’s current price.

Other analysts also recently issued research reports about the company. Summit Insights upgraded Semtech from a “hold” rating to a “buy” rating in a research report on Thursday. Benchmark downgraded Semtech from a “buy” rating to a “hold” rating in a research report on Thursday. TheStreet upgraded Semtech from a “d+” rating to a “c-” rating in a research report on Monday, July 31st. Roth Mkm reiterated a “buy” rating and set a $56.00 price target on shares of Semtech in a research report on Wednesday, September 6th. Finally, Susquehanna upgraded Semtech from a “neutral” rating to a “positive” rating and set a $30.00 target price for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and an average target price of $35.85.

Semtech Stock Down 0.8 %

Shares of NASDAQ SMTC opened at $24.98 on Thursday. Semtech has a 52 week low of $17.82 and a 52 week high of $35.18. The business has a 50-day simple moving average of $26.46 and a two-hundred day simple moving average of $24.88. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.82. The company has a market cap of $1.60 billion, a P/E ratio of -3.64 and a beta of 1.70.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, September 13th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $238.37 million during the quarter, compared to the consensus estimate of $237.37 million. Semtech had a positive return on equity of 2.56% and a negative net margin of 53.62%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the company posted $0.71 EPS. Research analysts anticipate that Semtech will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Semtech

A number of large investors have recently bought and sold shares of SMTC. Elequin Securities LLC purchased a new position in Semtech in the 4th quarter worth approximately $38,000. Harbor Investment Advisory LLC increased its stake in Semtech by 66.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,619 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 647 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Semtech during the second quarter valued at approximately $41,000. Quarry LP purchased a new position in shares of Semtech during the first quarter valued at approximately $49,000. Finally, Captrust Financial Advisors increased its stake in shares of Semtech by 186.5% during the first quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 664 shares during the period.

Semtech Company Profile

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.