Oppenheimer reissued their buy rating on shares of Semtech (NASDAQ:SMTC) in a research note released on Thursday. Oppenheimer currently has a $42.00 price target on the semiconductor company’s stock.

Other analysts also recently issued research reports about the stock. B. Riley restated a buy rating and set a $46.00 price objective (down previously from $48.00) on shares of Semtech in a report on Monday, November 27th. Zacks Investment Research downgraded shares of Semtech from a hold rating to a sell rating in a report on Wednesday, September 6th. Drexel Hamilton restated a buy rating and set a $45.00 price objective on shares of Semtech in a report on Thursday. BWS Financial began coverage on shares of Semtech in a report on Monday, November 20th. They set a buy rating and a $49.00 price objective for the company. Finally, BidaskClub downgraded shares of Semtech from a strong-buy rating to a buy rating in a report on Friday, August 18th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $43.29.

Semtech (NASDAQ SMTC) opened at $34.05 on Thursday. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.32. Semtech has a 12-month low of $29.00 and a 12-month high of $41.95. The firm has a market cap of $2,259.50, a PE ratio of 29.35, a P/E/G ratio of 5.54 and a beta of 1.41.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. Semtech had a net margin of 7.79% and a return on equity of 12.13%. The company had revenue of $156.60 million for the quarter, compared to analyst estimates of $155.69 million. During the same period last year, the firm earned $0.37 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. research analysts predict that Semtech will post 1.23 EPS for the current fiscal year.

In other news, insider Mohan Maheswaran sold 2,500 shares of Semtech stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $37.76, for a total value of $94,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gary Beauchamp sold 21,666 shares of Semtech stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $39.84, for a total transaction of $863,173.44. The disclosure for this sale can be found here. Insiders have sold 62,620 shares of company stock valued at $2,420,461 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Semtech by 2.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 65 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in shares of Semtech by 1.0% in the second quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the semiconductor company’s stock worth $350,000 after purchasing an additional 100 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Semtech by 2.4% in the second quarter. Nisa Investment Advisors LLC now owns 6,370 shares of the semiconductor company’s stock worth $228,000 after purchasing an additional 150 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Semtech by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock worth $1,781,000 after purchasing an additional 186 shares in the last quarter. Finally, CS Mckee LP increased its stake in shares of Semtech by 0.3% in the second quarter. CS Mckee LP now owns 58,500 shares of the semiconductor company’s stock worth $2,091,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 94.23% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Semtech’s (SMTC) Buy Rating Reiterated at Oppenheimer” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this report on another website, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this report can be read at https://www.thecerbatgem.com/2017/12/04/semtechs-smtc-buy-rating-reiterated-at-oppenheimer.html.

Semtech 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.

Analyst Recommendations for Semtech (NASDAQ:SMTC)

Receive News & Stock Ratings for Semtech Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech Co. and related stocks with our FREE daily email newsletter.