Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Northland Securities Analyst Says

Semtech (NASDAQ:SMTC) had its target price lifted by stock analysts at Northland Securities from $60.00 to $66.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ price target suggests a potential upside of 1.63% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Susquehanna boosted their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Roth Mkm lifted their price target on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Stifel Nicolaus upped their price objective on shares of Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler reiterated an “overweight” rating and set a $75.00 target price (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.30.

Semtech Trading Down 1.8 %

NASDAQ:SMTC opened at $64.94 on Tuesday. The stock has a fifty day moving average price of $49.65 and a 200 day moving average price of $40.74. Semtech has a 12-month low of $18.16 and a 12-month high of $70.27. The firm has a market cap of $4.91 billion, a PE ratio of -4.98 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share. Equities analysts forecast that Semtech will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Huntington National Bank grew its position in Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 302 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Semtech by 2.3% during the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock worth $540,000 after acquiring an additional 407 shares during the period. Hanseatic Management Services Inc. raised its holdings in Semtech by 3.2% during the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 447 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Semtech by 6.9% in the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 461 shares during the period. Finally, Creative Planning boosted its holdings in Semtech by 3.4% in the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after purchasing an additional 588 shares in 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.