Semtech Co. (NASDAQ:SMTC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Semtech Co. (NASDAQ:SMTC) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $67.70.

A number of brokerages have recently commented on SMTC. Northland Securities lifted their target price on shares of Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday. Roth Mkm lifted their target price on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday. Benchmark lifted their target price on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 target price (up from $60.00) on shares of Semtech in a report on Tuesday. Finally, Craig Hallum boosted their price objective on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday.

Institutional Investors Weigh In On Semtech

Several institutional investors have recently made changes to their positions in SMTC. Huntington National Bank boosted its position in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Semtech during the 2nd quarter worth $44,000. Canada Pension Plan Investment Board purchased a new stake in shares of Semtech in the 2nd quarter worth about $60,000. NBC Securities Inc. boosted its position in shares of Semtech by 115.8% in the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after buying an additional 739 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Semtech in the 2nd quarter worth about $63,000.

Semtech Trading Up 1.7 %

Shares of NASDAQ:SMTC opened at $64.20 on Friday. The company has a market capitalization of $4.83 billion, a PE ratio of -4.74 and a beta of 1.54. Semtech has a twelve month low of $15.63 and a twelve month high of $66.64. The firm has a 50 day simple moving average of $46.64 and a 200-day simple moving average of $39.30.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business 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 company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 EPS. As a group, equities research analysts predict that Semtech will post -0.07 EPS for the current fiscal year.

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.