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

Semtech (NASDAQ:SMTC) had its target price raised by Susquehanna from $55.00 to $60.00 in a report released on Thursday,Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

Several other equities analysts have also commented on the company. Roth Mkm reaffirmed a “buy” rating and set a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. Benchmark reaffirmed a “buy” rating and set a $56.00 target price on shares of Semtech in a report on Monday, October 7th. B. Riley upped their target price on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Semtech has an average rating of “Moderate Buy” and an average target price of $53.10.

Semtech Stock Down 0.0 %

Shares of Semtech stock opened at $50.89 on Thursday. The firm has a market cap of $3.83 billion, a P/E ratio of -3.76 and a beta of 1.54. Semtech has a fifty-two week low of $15.53 and a fifty-two week high of $53.22. The business has a 50-day moving average price of $45.56 and a 200 day moving average price of $38.87.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $215.40 million during the quarter, compared to analyst estimates of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. Semtech’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) earnings per share. As a group, equities research analysts anticipate that Semtech will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On Semtech

A number of institutional investors have recently added to or reduced their stakes in SMTC. ProShare Advisors LLC lifted its position in Semtech by 7.4% in the first quarter. ProShare Advisors LLC now owns 12,902 shares of the semiconductor company’s stock worth $355,000 after purchasing an additional 893 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Semtech by 37.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 25,008 shares of the semiconductor company’s stock worth $687,000 after purchasing an additional 6,750 shares during the period. Vanguard Group Inc. lifted its position in Semtech by 1.6% in the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after purchasing an additional 131,133 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Semtech by 5.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 77,580 shares of the semiconductor company’s stock worth $2,134,000 after purchasing an additional 4,347 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new stake in Semtech in the first quarter worth approximately $311,000.

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.