Semtech’s (SMTC) “Buy” Rating Reiterated at Roth Mkm

Roth Mkm restated their buy rating on shares of Semtech (NASDAQ:SMTC) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $50.00 price objective on the semiconductor company’s stock.

SMTC has been the subject of a number of other reports. Craig Hallum lifted their target price on shares of Semtech from $36.00 to $48.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Susquehanna boosted their price objective on shares of Semtech from $45.00 to $55.00 and gave the company a positive rating in a report on Thursday, June 6th. B. Riley raised their target price on Semtech from $58.00 to $61.00 and gave the stock a buy rating in a research note on Wednesday. Stifel Nicolaus lifted their price target on Semtech from $45.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Piper Sandler restated an overweight rating and issued a $60.00 price objective (up from $40.00) on shares of Semtech in a research note on Wednesday, May 29th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $50.00.

Semtech Stock Up 0.7 %

Shares of Semtech stock opened at $43.82 on Wednesday. The company has a market cap of $2.83 billion, a P/E ratio of -2.59 and a beta of 1.55. The firm’s 50 day moving average price is $33.33 and its 200-day moving average price is $31.60. Semtech has a 52-week low of $13.13 and a 52-week high of $46.86.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. The firm had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $212.30 million. During the same quarter last year, the firm earned ($0.06) EPS. The business’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, equities research analysts forecast that Semtech will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Semtech

Several hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC purchased a new position in shares of Semtech during the 1st quarter valued at approximately $27,000. Ridgewood Investments LLC purchased a new position in Semtech in the second quarter valued at $44,000. GAMMA Investing LLC increased its holdings in Semtech by 83.9% in the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 773 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Semtech by 205.0% during the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 1,259 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Semtech during the 2nd quarter worth about $60,000.

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.