Semtech Co. (NASDAQ:SMTC) Receives $71.09 Consensus Target Price from Analysts

Shares of Semtech Co. (NASDAQ:SMTC) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $67.91.

Several analysts have weighed in on the stock. Robert W. Baird dropped their price objective on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Roth Mkm lifted their price objective on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. UBS Group started coverage on shares of Semtech in a research report on Friday, January 17th. They issued a “buy” rating and a $85.00 target price for the company. Benchmark boosted their target price on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus dropped their target price on shares of Semtech from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Monday.

Insider Activity at Semtech

In other news, SVP Imran Sherazi sold 1,338 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the completion of the transaction, the senior vice president now owns 14 shares of the company’s stock, valued at approximately $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Lin sold 6,114 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the completion of the sale, the chief financial officer now directly owns 3,531 shares in the company, valued at approximately $232,127.94. This represents a 63.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,747 shares of company stock valued at $1,095,061 in the last 90 days. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Semtech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank lifted its holdings in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 302 shares during the period. Hollencrest Capital Management bought a new position in shares of Semtech in the 4th quarter worth about $31,000. Smartleaf Asset Management LLC raised its position in shares of Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 505 shares in the last quarter. NBC Securities Inc. raised its position in shares of Semtech by 115.8% in the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 739 shares in the last quarter. Finally, AlphaQuest LLC raised its position in shares of Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 772 shares in the last quarter.

Semtech Stock Performance

Shares of SMTC stock opened at $36.73 on Friday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -2.81, a PEG ratio of 2.98 and a beta of 1.64. The company has a 50-day simple moving average of $63.55 and a 200 day simple moving average of $50.65. Semtech has a 52 week low of $19.20 and a 52 week high of $79.52.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. During the same period in the previous year, the firm posted $0.02 EPS. The business’s quarterly revenue was up 17.9% on a year-over-year basis.

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.