Semtech (NASDAQ:SMTC) Shares Gap Down to $37.98

Shares of Semtech Co. (NASDAQ:SMTCGet Free Report) gapped down prior to trading on Friday . The stock had previously closed at $37.98, but opened at $29.50. Semtech shares last traded at $28.61, with a volume of 719,699 shares changing hands.

Analysts Set New Price Targets

SMTC has been the topic of a number of analyst reports. B. Riley raised their price objective on shares of Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 17th. Oppenheimer restated a “market perform” rating on shares of Semtech in a research report on Monday, April 1st. Northland Securities boosted their price objective on shares of Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus boosted their price objective on shares of Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Roth Mkm increased their price target on shares of Semtech from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Semtech currently has an average rating of “Moderate Buy” and a consensus price target of $48.90.

Get Our Latest Stock Report on SMTC

Semtech Stock Performance

The firm’s 50-day moving average price is $36.48 and its two-hundred day moving average price is $26.24. The firm has a market capitalization of $2.02 billion, a PE ratio of -1.84 and a beta of 1.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 4.11.

Semtech (NASDAQ:SMTCGet Free Report) last posted its quarterly earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The company had revenue of $192.95 million for the quarter, compared to analyst estimates of $191.24 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. As a group, research analysts predict that Semtech Co. will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin bought 1,000 shares of the stock in a transaction dated Monday, April 8th. The shares were acquired at an average price of $33.23 per share, with a total value of $33,230.00. Following the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at $33,230. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Capital Management LLC acquired a new position in Semtech during the 1st quarter valued at about $7,084,000. Kodai Capital Management LP increased its stake in shares of Semtech by 2.7% in the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after acquiring an additional 54,267 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new stake in shares of Semtech in the 1st quarter valued at about $311,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Semtech by 5.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 77,580 shares of the semiconductor company’s stock valued at $2,134,000 after acquiring an additional 4,347 shares during the last quarter. Finally, HAP Trading LLC bought a new stake in Semtech during the 1st quarter worth approximately $1,346,000.

Semtech Company Profile

(Get Free Report)

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor 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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