Semtech Corporation (SMTC) Given “Hold” Rating at Royal Bank Of Canada
Royal Bank Of Canada restated their hold rating on shares of Semtech Corporation (NASDAQ:SMTC) in a research report released on Tuesday. Royal Bank Of Canada currently has a $39.00 price target on the semiconductor company’s stock.
Several other equities research analysts have also weighed in on the company. Oppenheimer Holdings, Inc. reaffirmed a buy rating and issued a $42.00 target price on shares of Semtech Corporation in a research report on Sunday, August 27th. Zacks Investment Research downgraded shares of Semtech Corporation from a hold rating to a sell rating in a report on Wednesday, September 6th. Drexel Hamilton reissued a buy rating and set a $45.00 price target on shares of Semtech Corporation in a report on Thursday, August 31st. Robert W. Baird restated an outperform rating and set a $45.00 price target on shares of Semtech Corporation in a research report on Tuesday, June 13th. Finally, BidaskClub lowered shares of Semtech Corporation from a strong-buy rating to a buy rating in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $43.50.
Shares of Semtech Corporation (NASDAQ SMTC) traded down 1.17% during mid-day trading on Tuesday, hitting $37.85. 93,324 shares of the stock traded hands. The stock has a market cap of $2.51 billion, a PE ratio of 40.01 and a beta of 1.45. Semtech Corporation has a one year low of $22.81 and a one year high of $41.15. The stock has a 50-day moving average of $36.63 and a 200 day moving average of $36.04.
Semtech Corporation (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The business had revenue of $153.10 million for the quarter, compared to the consensus estimate of $154.91 million. During the same quarter last year, the business posted $0.35 EPS. The business’s revenue was up 12.7% on a year-over-year basis. Equities analysts predict that Semtech Corporation will post $1.89 EPS for the current fiscal year.
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In related news, SVP Asaf Silberstein sold 1,500 shares of the stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $35.48, for a total value of $53,220.00. Following the completion of the transaction, the senior vice president now owns 32,036 shares in the company, valued at approximately $1,136,637.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles B. Ammann sold 2,250 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $37.72, for a total transaction of $84,870.00. Following the completion of the transaction, the executive vice president now owns 14,905 shares of the company’s stock, valued at approximately $562,216.60. The disclosure for this sale can be found here. In the last three months, insiders sold 49,794 shares of company stock valued at $1,858,747. Company insiders own 2.20% of the company’s stock.
Several large investors have recently modified their holdings of SMTC. Advisors Asset Management Inc. boosted its holdings in shares of Semtech Corporation by 34.1% in the first quarter. Advisors Asset Management Inc. now owns 3,002 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 764 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Semtech Corporation by 74.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,299 shares of the semiconductor company’s stock valued at $112,000 after acquiring an additional 1,405 shares during the period. Strs Ohio increased its stake in shares of Semtech Corporation by 22.2% during the second quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock valued at $117,000 after acquiring an additional 600 shares during the period. FNY Partners Fund LP increased its stake in shares of Semtech Corporation by 515.4% during the first quarter. FNY Partners Fund LP now owns 4,000 shares of the semiconductor company’s stock valued at $135,000 after acquiring an additional 3,350 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of Semtech Corporation during the first quarter valued at approximately $137,000. 94.42% of the stock is owned by institutional investors.
About Semtech Corporation
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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