Northland Securities Forecasts Strong Price Appreciation for Semtech (NASDAQ:SMTC) Stock

Semtech (NASDAQ:SMTC) had its price target hoisted by Northland Securities from $46.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ target price suggests a potential downside of 6.54% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Stifel Nicolaus upped their price objective on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Susquehanna lifted their target price on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Roth Mkm upped their target price on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.70.

Semtech Trading Up 1.7 %

NASDAQ:SMTC opened at $64.20 on Tuesday. Semtech has a twelve month low of $15.63 and a twelve month high of $66.64. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of -4.86 and a beta of 1.54. The firm’s fifty day simple moving average is $46.24 and its 200 day simple moving average is $39.12.

Semtech (NASDAQ:SMTC) last posted its earnings results 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 business had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. On average, analysts predict that Semtech will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On Semtech

Several large investors have recently added to or reduced their stakes in SMTC. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Semtech by 343.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after acquiring an additional 1,932,116 shares during the period. Driehaus Capital Management LLC bought a new stake in Semtech in the 2nd quarter valued at about $43,395,000. Millennium Management LLC boosted its stake in Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after purchasing an additional 765,877 shares during the period. Whale Rock Capital Management LLC bought a new position in Semtech in the 3rd quarter worth about $32,126,000. Finally, Clearline Capital LP increased its stake in shares of Semtech by 143.1% in the second quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock valued at $26,863,000 after purchasing an additional 529,194 shares during the period.

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.