Semtech Co. (NASDAQ:SMTC) Receives Consensus Rating of “Moderate Buy” from Analysts

Semtech Co. (NASDAQ:SMTC) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $48.90.

SMTC has been the topic of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 price objective (up from $40.00) on shares of Semtech in a report on Wednesday, May 29th. Craig Hallum upped their price objective on shares of Semtech from $36.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Northland Securities upped their price objective on shares of Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. B. Riley upped their price objective on shares of Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Susquehanna upped 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.

Semtech Trading Down 3.1 %

Shares of Semtech stock opened at $35.30 on Friday. Semtech has a 12-month low of $13.13 and a 12-month high of $46.86. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -2.11 and a beta of 1.55. The firm’s 50 day simple moving average is $31.96 and its two-hundred day simple moving average is $30.73.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17). Semtech had a negative net margin of 129.52% and a negative return on equity of 154.99%. The business had revenue of $206.11 million for the quarter, compared to analyst estimates of $200.16 million. On average, sell-side analysts predict that Semtech will post -0.03 EPS for the current fiscal year.

Institutional Trading of Semtech

Hedge funds have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new position in Semtech during the first quarter valued at $27,000. Ridgewood Investments LLC purchased a new position in Semtech during the second quarter valued at $44,000. GAMMA Investing LLC lifted its holdings in Semtech by 83.9% during the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 773 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Semtech by 205.0% during the first quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Semtech during the second quarter valued at $60,000.

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.