Semtech Corp. (SMTC) Rating Reiterated by Drexel Hamilton
Semtech Corp. (NASDAQ:SMTC)‘s stock had its “buy” rating reaffirmed by investment analysts at Drexel Hamilton in a research note issued to investors on Saturday. They presently have a $32.00 target price on the stock. Drexel Hamilton’s target price would indicate a potential upside of 16.24% from the company’s current price.
Several other analysts have also recently commented on SMTC. B. Riley reiterated a “buy” rating and issued a $31.50 price target on shares of Semtech Corp. in a research note on Monday, June 20th. MKM Partners restated a “hold” rating on shares of Semtech Corp. in a research report on Thursday, June 23rd. Zacks Investment Research cut shares of Semtech Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Semtech Corp. in a research report on Monday, September 5th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Semtech Corp. presently has a consensus rating of “Buy” and an average price target of $27.33.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 27.53 on Friday. Semtech Corp. has a 52-week low of $15.70 and a 52-week high of $28.21. The firm’s 50-day moving average price is $27.07 and its 200 day moving average price is $24.23. The company has a market capitalization of $1.81 billion, a PE ratio of 65.39 and a beta of 1.37.
Semtech Corp. (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, August 31st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $135.90 million for the quarter. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, equities analysts forecast that Semtech Corp. will post $1.34 earnings per share for the current year.
In related news, insider Mohan Maheswaran sold 1,500 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $26.40, for a total value of $39,600.00. Following the sale, the insider now directly owns 183,367 shares of the company’s stock, valued at approximately $4,840,888.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark C. Costello sold 3,042 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $27.47, for a total transaction of $83,563.74. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Creative Planning raised its stake in Semtech Corp. by 0.4% in the second quarter. Creative Planning now owns 6,528 shares of the company’s stock worth $156,000 after buying an additional 28 shares during the period. PineBridge Investments L.P. increased its position in shares of Semtech Corp. by 4.4% in the second quarter. PineBridge Investments L.P. now owns 8,278 shares of the company’s stock worth $198,000 after buying an additional 348 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Semtech Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,134 shares of the company’s stock worth $218,000 after buying an additional 1,105 shares in the last quarter. Zacks Investment Management bought a new position in shares of Semtech Corp. during the second quarter worth approximately $224,000. Finally, Aspen Investment Management Inc bought a new position in shares of Semtech Corp. during the second quarter worth approximately $230,000. 95.43% of the stock is currently owned by institutional investors.
Semtech Corp. Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
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