B. Riley Forecasts Strong Price Appreciation for Semtech (NASDAQ:SMTC) Stock

Semtech (NASDAQ:SMTC) had its price objective boosted by stock analysts at B. Riley from $61.00 to $85.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target would indicate a potential upside of 32.40% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Northland Securities increased their target price on Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target (up from $50.00) on shares of Semtech in a research report on Tuesday. Roth Mkm boosted their price objective on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday. Stifel Nicolaus increased their target price on shares of Semtech from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Craig Hallum boosted their price target on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $67.70.

Semtech Trading Up 1.7 %

Shares of NASDAQ:SMTC opened at $64.20 on Tuesday. The stock has a market capitalization of $4.83 billion, a P/E ratio of -4.86 and a beta of 1.54. Semtech has a 1-year low of $15.63 and a 1-year high of $66.64. The business has a 50-day moving average price of $46.24 and a two-hundred day moving average price of $39.12.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share. As a group, equities analysts predict that Semtech will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Huntington National Bank raised 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 acquiring an additional 302 shares in the last quarter. Ridgewood Investments LLC bought a new position in Semtech during the second quarter worth about $44,000. Canada Pension Plan Investment Board acquired a new position in Semtech during the second quarter worth approximately $60,000. NBC Securities Inc. raised its stake in Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 739 shares during the period. Finally, Quarry LP acquired a new stake in shares of Semtech in the second quarter valued at approximately $63,000.

Semtech Company Profile

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.