Semtech Co. (NASDAQ:SMTC) has earned an average recommendation of “Buy” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $58.70.

A number of equities research analysts have weighed in on SMTC shares. Roth Capital set a $63.00 target price on Semtech and gave the company a “buy” rating in a research report on Monday, October 8th. ValuEngine raised Semtech from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 12th. BidaskClub lowered Semtech from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $57.00 target price on shares of Semtech in a research report on Monday, August 27th. Finally, Stifel Nicolaus lifted their target price on Semtech from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, August 30th.

In other news, VP Simon A. Brown sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $59.01, for a total value of $118,020.00. Following the completion of the transaction, the vice president now directly owns 17,193 shares of the company’s stock, valued at approximately $1,014,558.93. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP James Jungsup Kim sold 8,617 shares of the business’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $60.00, for a total value of $517,020.00. Following the completion of 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 three months, insiders sold 38,886 shares of company stock valued at $2,288,967. Corporate insiders own 2.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its position in Semtech by 237.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,822 shares of the semiconductor company’s stock valued at $211,000 after buying an additional 2,688 shares in the last quarter. Macquarie Group Ltd. increased its position in Semtech by 4.1% during the 3rd quarter. Macquarie Group Ltd. now owns 1,323,252 shares of the semiconductor company’s stock valued at $73,573,000 after buying an additional 51,726 shares in the last quarter. HPM Partners LLC acquired a new position in Semtech during the 3rd quarter valued at about $214,000. Worth Venture Partners LLC increased its position in Semtech by 67.2% during the 3rd quarter. Worth Venture Partners LLC now owns 15,573 shares of the semiconductor company’s stock valued at $866,000 after buying an additional 6,257 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its position in Semtech by 47.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 43,771 shares of the semiconductor company’s stock valued at $2,434,000 after buying an additional 14,102 shares in the last quarter. 97.85% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ SMTC opened at $48.78 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.13 and a quick ratio of 3.62. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 5.73 and a beta of 1.68. Semtech has a twelve month low of $31.30 and a twelve month high of $60.55.

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

Semtech Company Profile

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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