Semtech (NASDAQ:SMTC) Price Target Raised to $74.00 at Needham & Company LLC

Semtech (NASDAQ:SMTC) had its target price hoisted by Needham & Company LLC from $70.00 to $74.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other analysts have also issued reports about the stock. 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, November 26th. Susquehanna increased their price objective on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Craig Hallum boosted their target price on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Benchmark raised their price target on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Northland Securities lifted their price target on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.70.

Semtech Price Performance

SMTC opened at $65.15 on Thursday. The stock’s 50 day simple moving average is $51.48 and its 200 day simple moving average is $41.41. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of -4.99 and a beta of 1.65. Semtech has a 1 year low of $18.16 and a 1 year high of $70.27.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. During the same quarter last year, the business earned $0.02 earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Semtech will post -0.01 EPS for the current year.

Institutional Trading of Semtech

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in Semtech by 8.0% in the third quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after acquiring an additional 119,572 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Semtech by 4.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after purchasing an additional 114,999 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Semtech in the 3rd quarter worth about $763,000. Wellington Management Group LLP purchased a new stake in Semtech during the 3rd quarter valued at about $10,556,000. Finally, Whale Rock Capital Management LLC bought a new stake in Semtech during the 3rd quarter valued at about $32,126,000.

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.