Roth Mkm Issues Positive Forecast for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its target price hoisted by Roth Mkm from $50.00 to $60.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other analysts also recently issued research reports about the stock. Benchmark reiterated a “buy” rating and issued a $56.00 target price on shares of Semtech in a report on Monday, October 7th. Stifel Nicolaus increased their target price on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Susquehanna increased their target price on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Finally, B. Riley increased their price target on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.10.

Semtech Trading Up 5.0 %

SMTC opened at $53.44 on Monday. The company’s fifty day moving average price is $45.83 and its two-hundred day moving average price is $38.96. Semtech has a 1-year low of $15.63 and a 1-year high of $53.74. The company has a market cap of $4.02 billion, a price-to-earnings ratio of -3.94 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 earnings per share. As a group, equities analysts forecast that Semtech will post -0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Semtech

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank boosted its position in Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares during the period. NBC Securities Inc. boosted its position in Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 739 shares during the period. Ridgewood Investments LLC bought a new position in Semtech during the second quarter worth about $44,000. International Assets Investment Management LLC boosted its position in shares of Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 1,652 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of Semtech in the second quarter valued at approximately $60,000.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.