Semtech (NASDAQ:SMTC) Price Target Raised to $82.00

Semtech (NASDAQ:SMTC) had its price target boosted by Benchmark from $56.00 to $82.00 in a report issued on Tuesday,Benzinga reports. Benchmark currently has a buy rating on the semiconductor company’s stock.

Several other research firms have also weighed in on SMTC. Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price (up from $50.00) on shares of Semtech in a report on Tuesday. Stifel Nicolaus lifted their target price on shares of Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday. Susquehanna boosted their price target on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Finally, Roth Mkm boosted their price target on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.70.

Semtech Trading Up 1.7 %

SMTC opened at $64.20 on Tuesday. Semtech has a 12-month low of $15.63 and a 12-month high of $66.64. The firm has a market capitalization of $4.83 billion, a PE ratio of -4.74 and a beta of 1.54. The firm has a 50 day moving average of $46.64 and a two-hundred day moving average of $39.30.

Semtech (NASDAQ:SMTC) last posted its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. As a group, analysts predict that Semtech will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Semtech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank boosted its stake in 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 during the last quarter. Arizona State Retirement System boosted its position in shares of Semtech by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock valued at $540,000 after acquiring an additional 407 shares during the last quarter. Hanseatic Management Services Inc. boosted its position in shares of Semtech by 3.2% during the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after acquiring an additional 447 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Semtech by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after acquiring an additional 461 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after acquiring an additional 588 shares during the last quarter.

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.