Semtech Corp. (SMTC) Receives $28.75 Consensus Price Target from Brokerages
Shares of Semtech Corp. (NASDAQ:SMTC) have earned a consensus recommendation of “Buy” from the eight analysts that are presently covering the stock. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $28.75.
A number of analysts have recently issued reports on the stock. B. Riley reaffirmed a “buy” rating and set a $37.00 price objective on shares of Semtech Corp. in a report on Tuesday, October 11th. Drexel Hamilton reiterated a “buy” rating and issued a $32.00 target price on shares of Semtech Corp. in a research report on Saturday, October 8th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Semtech Corp. in a research report on Monday, September 5th. Finally, Zacks Investment Research cut shares of Semtech Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd.
In other Semtech Corp. news, Director Rockell N. Hankin sold 6,795 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $27.73, for a total value of $188,425.35. Following the transaction, the director now owns 166,735 shares in the company, valued at $4,623,561.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark C. Costello sold 3,042 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were 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 company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC boosted its position in shares of Semtech Corp. by 501,328.0% in the second quarter. ClariVest Asset Management LLC now owns 125,357 shares of the company’s stock valued at $2,991,000 after buying an additional 125,332 shares in the last quarter. Insight Capital Research & Management Inc. bought a new position in shares of Semtech Corp. during the second quarter valued at about $3,146,000. Capital Fund Management S.A. bought a new position in shares of Semtech Corp. during the second quarter valued at about $663,000. Louisiana State Employees Retirement System boosted its position in shares of Semtech Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the company’s stock valued at $690,000 after buying an additional 200 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Semtech Corp. during the second quarter valued at about $5,778,000. Hedge funds and other institutional investors own 96.76% of the company’s stock.
Semtech Corp. (NASDAQ:SMTC) opened at 25.95 on Friday. Semtech Corp. has a 52-week low of $15.70 and a 52-week high of $28.20. The company has a market cap of $1.70 billion, a PE ratio of 61.64 and a beta of 1.39. The stock’s 50 day moving average is $25.75 and its 200-day moving average is $24.79.
Semtech Corp. (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The company earned $135.90 million during the quarter. During the same period in the prior year, the firm posted $0.24 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Semtech Corp. will post $1.34 EPS for the current fiscal year.
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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