Semtech Corporation (SMTC) Receives Buy Rating from Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. reissued their buy rating on shares of Semtech Corporation (NASDAQ:SMTC) in a report released on Sunday morning. Oppenheimer Holdings, Inc. currently has a $42.00 price objective on the semiconductor company’s stock.
SMTC has been the topic of a number of other reports. B. Riley reissued a buy rating and issued a $48.00 price target on shares of Semtech Corporation in a research note on Thursday, October 5th. Zacks Investment Research lowered Semtech Corporation from a hold rating to a sell rating in a research note on Wednesday, September 6th. BWS Financial began coverage on Semtech Corporation in a research note on Monday. They issued a buy rating and a $49.00 price target on the stock. BidaskClub lowered Semtech Corporation from a strong-buy rating to a buy rating in a research note on Friday, August 18th. Finally, Royal Bank Of Canada restated a hold rating and issued a $39.00 price objective on shares of Semtech Corporation in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $44.29.
Shares of Semtech Corporation (NASDAQ SMTC) opened at $40.05 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.83 and a current ratio of 3.42. The company has a market capitalization of $2,581.75, a price-to-earnings ratio of 35.46, a P/E/G ratio of 6.34 and a beta of 1.48. Semtech Corporation has a 52 week low of $27.55 and a 52 week high of $41.95.
Semtech Corporation (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The firm had revenue of $153.10 million for the quarter, compared to analyst estimates of $154.91 million. During the same period last year, the company earned $0.35 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. research analysts expect that Semtech Corporation will post 1.23 EPS for the current year.
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In related news, insider Mohan Maheswaran sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $37.76, for a total transaction of $94,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Mark C. Costello sold 897 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $36.27, for a total value of $32,534.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,370 shares of company stock worth $2,636,446. Company insiders own 2.20% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Strs Ohio raised its holdings in shares of Semtech Corporation by 22.2% during the 2nd quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Semtech Corporation by 2.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 65 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Semtech Corporation during the 3rd quarter valued at about $133,000. Victory Capital Management Inc. raised its holdings in shares of Semtech Corporation by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,773 shares of the semiconductor company’s stock valued at $171,000 after buying an additional 717 shares during the period. Finally, Riverhead Capital Management LLC raised its holdings in shares of Semtech Corporation by 65.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,130 shares of the semiconductor company’s stock valued at $183,000 after buying an additional 2,030 shares during the period. Institutional investors and hedge funds own 93.91% of the company’s stock.
Semtech Corporation Company Profile
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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