Semtech (NASDAQ:SMTC) Price Target Raised to $50.00

Semtech (NASDAQ:SMTC) had its price objective hoisted by stock analysts at Stifel Nicolaus from $45.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 29.17% from the stock’s current price.

A number of other research firms also recently issued reports on SMTC. Northland Securities upped their target price on shares of Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, June 6th. Craig Hallum increased 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. Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday. Piper Sandler restated an “overweight” rating and set a $60.00 target price (up previously from $40.00) on shares of Semtech in a report on Wednesday, May 29th. Finally, B. Riley upped their price target on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Semtech Trading Up 1.4 %

Shares of SMTC traded up $0.55 during mid-day trading on Wednesday, hitting $38.71. 738,807 shares of the company traded hands, compared to its average volume of 1,889,449. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -2.29 and a beta of 1.55. The business has a 50-day moving average of $32.52 and a 200 day moving average of $31.28. Semtech has a one year low of $13.13 and a one year high of $46.86.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $215.40 million for 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 129.52%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. As a group, analysts anticipate that Semtech will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Semtech

Several institutional investors have recently bought and sold shares of SMTC. Vanguard Group Inc. raised its holdings in shares of Semtech by 1.6% in the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after purchasing an additional 131,133 shares during the last quarter. Millennium Management LLC lifted its position in Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after buying an additional 765,877 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of Semtech by 343.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock worth $74,550,000 after buying an additional 1,932,116 shares during the last quarter. Kodai Capital Management LP grew its holdings in shares of Semtech by 2.7% in the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after acquiring an additional 54,267 shares in the last quarter. Finally, Contour Asset Management LLC increased its position in shares of Semtech by 2.6% in the fourth quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock valued at $32,072,000 after acquiring an additional 36,838 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.