Semtech Corp. (SMTC) Upgraded at Oppenheimer Holdings Inc.
Semtech Corp. (NASDAQ:SMTC) was upgraded by investment analysts at Oppenheimer Holdings Inc. from a “market perform” rating to an “outperform” rating in a research note issued on Thursday.
Several other equities analysts have also issued reports on SMTC. Zacks Investment Research lowered Semtech Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. B. Riley restated a “buy” rating and set a $31.50 price target on shares of Semtech Corp. in a research note on Thursday, August 25th. Drexel Hamilton boosted their price target on Semtech Corp. from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, September 1st. Finally, Royal Bank Of Canada boosted their price target on Semtech Corp. from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $29.00.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 28.10 on Thursday. The company has a market cap of $1.84 billion, a PE ratio of 66.75 and a beta of 1.39. Semtech Corp. has a 1-year low of $15.70 and a 1-year high of $28.45. The firm’s 50-day moving average is $25.74 and its 200-day moving average is $25.17.
Semtech Corp. (NASDAQ:SMTC) last posted its earnings results on Wednesday, November 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Semtech Corp. had a return on equity of 8.89% and a net margin of 5.55%. The company had revenue of $137.20 million for the quarter. During the same quarter last year, the firm earned $0.19 EPS. Semtech Corp.’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities analysts forecast that Semtech Corp. will post $1.34 earnings per share for the current fiscal year.
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In other Semtech Corp. news, VP Mark C. Costello sold 3,042 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $27.47, for a total value of $83,563.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rockell N. Hankin sold 6,795 shares of the business’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $27.73, for a total value of $188,425.35. Following the completion of the transaction, the director now directly owns 166,735 shares of the company’s stock, valued at $4,623,561.55. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SMTC. BlackRock Japan Co. Ltd increased its position in shares of Semtech Corp. by 82.3% in the third quarter. BlackRock Japan Co. Ltd now owns 3,720 shares of the company’s stock worth $103,000 after buying an additional 1,679 shares during the last quarter. Creative Planning increased its position in shares of Semtech Corp. by 0.4% in the second quarter. Creative Planning now owns 6,528 shares of the company’s stock valued at $156,000 after buying an additional 28 shares during the last quarter. 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 valued at $198,000 after buying an additional 348 shares during 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 valued at $218,000 after buying an additional 1,105 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in shares of Semtech Corp. during the second quarter valued at $224,000. 95.36% of the stock is owned by institutional investors.
About Semtech Corp.
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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