Stifel Nicolaus Has Lowered Expectations for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its price objective cut by Stifel Nicolaus from $75.00 to $70.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 83.34% from the stock’s current price.

A number of other brokerages also recently issued reports on SMTC. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price target (down from $75.00) on shares of Semtech in a report on Monday. B. Riley lifted their target price on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Robert W. Baird dropped their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Craig Hallum lifted their price objective on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Northland Securities increased their target price on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.91.

Semtech Stock Up 1.5 %

NASDAQ SMTC opened at $38.18 on Monday. Semtech has a twelve month low of $19.12 and a twelve month high of $79.52. The business has a 50-day moving average price of $64.77 and a 200-day moving average price of $50.85. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -2.93, a price-to-earnings-growth ratio of 2.98 and a beta of 1.64.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate 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. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 earnings per share.

Insider Activity

In related news, CFO Mark Lin sold 6,114 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36. Following the transaction, the chief financial officer now directly owns 3,531 shares in the company, valued at approximately $232,127.94. This represents a 63.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $100,350.00. Following the completion of the sale, the senior vice president now directly owns 14 shares of the company’s stock, valued at approximately $1,050. The trade was a 98.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,747 shares of company stock valued at $1,095,061. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Semtech

A number of large investors have recently made changes to their positions in the stock. Creative Planning lifted its holdings in Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after buying an additional 588 shares in the last quarter. Truist Financial Corp bought a new stake in shares of Semtech during the second quarter valued at approximately $340,000. GAMMA Investing LLC boosted its holdings in shares of Semtech by 76.0% in the third quarter. GAMMA Investing LLC now owns 2,745 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 1,185 shares during the period. CWM LLC grew its stake in Semtech by 33.9% in the third quarter. CWM LLC now owns 3,230 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 818 shares in the last quarter. Finally, NBC Securities Inc. increased its holdings in 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 period.

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.