Semtech Corporation (NASDAQ:SMTC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Semtech Corporation (NASDAQ:SMTC) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $58.58.

SMTC has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Semtech in a research report on Wednesday, May 28th. Craig Hallum cut their price target on Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a report on Friday, March 14th. Benchmark reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. Morgan Stanley set a $43.00 price target on Semtech in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus boosted their price target on Semtech from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd.

Insider Buying and Selling

In other news, CFO Mark Lin sold 999 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total transaction of $43,796.16. Following the completion of the sale, the chief financial officer directly owned 17,211 shares of the company’s stock, valued at $754,530.24. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value of $85,960.00. Following the completion of the sale, the chief operating officer directly owned 105,996 shares of the company’s stock, valued at approximately $4,555,708.08. This trade represents a 1.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Semtech

Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Smartleaf Asset Management LLC lifted its position in shares of Semtech by 33.4% in the first quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company’s stock worth $36,000 after buying an additional 257 shares during the last quarter. Quadrant Capital Group LLC grew its position in Semtech by 27.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company’s stock worth $97,000 after acquiring an additional 337 shares during the last quarter. Hollencrest Capital Management acquired a new position in Semtech during the 4th quarter worth $31,000. Dunhill Financial LLC acquired a new position in shares of Semtech in the 4th quarter valued at $31,000. Finally, Versant Capital Management Inc increased its position in shares of Semtech by 58.5% in the 1st quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 553 shares in the last quarter.

Semtech Trading Up 2.0%

Shares of NASDAQ SMTC opened at $44.85 on Monday. The firm has a market cap of $3.89 billion, a PE ratio of -21.77 and a beta of 1.92. The company has a quick ratio of 1.81, a current ratio of 2.53 and a debt-to-equity ratio of 0.95. Semtech has a twelve month low of $24.05 and a twelve month high of $79.52. The business has a fifty day simple moving average of $39.06 and a two-hundred day simple moving average of $43.73.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.10. The business had revenue of $251.10 million for the quarter, compared to the consensus estimate of $249.79 million. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. Analysts expect that Semtech will post -0.02 earnings per share for the current fiscal year.

About Semtech

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.