BidaskClub upgraded shares of Semtech (NASDAQ:SMTC) from a strong sell rating to a sell rating in a report issued on Tuesday.

SMTC has been the subject of a number of other reports. Zacks Investment Research raised shares of Semtech from a hold rating to a strong-buy rating and set a $68.00 price target for the company in a research report on Tuesday, September 18th. ValuEngine raised shares of Semtech from a buy rating to a strong-buy rating in a research report on Wednesday, September 12th. Roth Capital set a $63.00 price target on shares of Semtech and gave the stock a buy rating in a research report on Monday, October 8th. Oppenheimer raised their price target on shares of Semtech from $58.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday, August 30th. Finally, Royal Bank of Canada raised their price target on shares of Semtech to $55.00 and gave the stock an outperform rating in a research report on Monday, August 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Semtech presently has a consensus rating of Buy and an average price target of $59.55.

SMTC opened at $46.73 on Tuesday. Semtech has a 12-month low of $31.30 and a 12-month high of $60.55. The company has a quick ratio of 3.62, a current ratio of 4.13 and a debt-to-equity ratio of 0.29. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 6.22 and a beta of 1.68.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, August 29th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Semtech had a net margin of 8.48% and a return on equity of 12.66%. The company had revenue of $163.20 million during the quarter, compared to analyst estimates of $161.21 million. During the same period last year, the firm posted $0.48 EPS. Semtech’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts expect that Semtech will post 1.56 EPS for the current year.

In other news, VP Mark C. Costello sold 1,063 shares of Semtech stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $58.27, for a total transaction of $61,941.01. Following the completion of the transaction, the vice president now directly owns 6,813 shares of the company’s stock, valued at approximately $396,993.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP James Jungsup Kim sold 8,617 shares of Semtech stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $60.00, for a total transaction of $517,020.00. Following the transaction, the senior vice president now directly owns 54,842 shares of the company’s stock, valued at $3,290,520. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,886 shares of company stock valued at $2,288,967. Insiders own 2.30% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Semtech by 4.0% in the 3rd quarter. BlackRock Inc. now owns 9,497,991 shares of the semiconductor company’s stock worth $528,088,000 after acquiring an additional 363,609 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in Semtech by 18.4% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 4,407,687 shares of the semiconductor company’s stock worth $207,382,000 after acquiring an additional 684,861 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Semtech by 30.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,299,759 shares of the semiconductor company’s stock worth $127,868,000 after acquiring an additional 543,325 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Semtech by 2.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,155,889 shares of the semiconductor company’s stock worth $119,867,000 after acquiring an additional 47,871 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in Semtech by 4.5% in the 2nd quarter. Stephens Investment Management Group LLC now owns 1,269,062 shares of the semiconductor company’s stock worth $59,709,000 after acquiring an additional 55,141 shares in the last quarter. 96.77% of the stock is owned by hedge funds and other institutional investors.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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