Needham & Company LLC Issues Pessimistic Forecast for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its price target decreased by Needham & Company LLC from $74.00 to $54.00 in a research report sent to investors on Monday,Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

SMTC has been the topic of several other research reports. Robert W. Baird decreased their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Craig Hallum raised their price target on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus raised their price target on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 6th. Roth Mkm raised their target price on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, UBS Group started coverage on Semtech in a report on Friday, January 17th. They set a “buy” rating and a $85.00 target price on the stock. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.91.

Semtech Stock Performance

Shares of NASDAQ:SMTC opened at $36.65 on Monday. Semtech has a twelve month low of $19.12 and a twelve month high of $79.52. The firm has a market cap of $2.77 billion, a PE ratio of -2.81, a price-to-earnings-growth ratio of 2.98 and a beta of 1.64. The business has a fifty day moving average of $64.12 and a 200-day moving average of $50.75.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 EPS.

Insider Activity

In other news, SVP Imran Sherazi sold 2,946 shares of Semtech stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.30, for a total transaction of $186,481.80. Following the transaction, the senior vice president now owns 6,317 shares in the company, valued at $399,866.10. The trade was a 31.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Lin sold 1,359 shares of Semtech stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $65.15, for a total value of $88,538.85. Following the completion of the sale, the chief financial officer now directly owns 4,164 shares in the company, valued at approximately $271,284.60. This represents a 24.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,747 shares of company stock worth $1,095,061 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Semtech

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Semtech in the 4th quarter valued at approximately $31,000. Huntington National Bank raised 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. Smartleaf Asset Management LLC raised its position in Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 505 shares during the last quarter. AlphaQuest LLC raised its position in Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 772 shares during the last quarter. Finally, NBC Securities Inc. increased its position in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 739 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.