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

Shares of Semtech Co. (NASDAQ:SMTC) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $61.55.

Several research firms recently issued reports on SMTC. Northland Securities upped 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. Stifel Nicolaus cut their price objective on Semtech from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Benchmark dropped their target price on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Finally, Piper Sandler reissued an “overweight” rating and set a $55.00 price target (down from $75.00) on shares of Semtech in a research report on Monday, February 10th.

Insider Activity at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the sale, the chief operating officer now directly owns 76,417 shares in the company, valued at $5,349,190. This trade represents a 2.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now directly owns 14 shares of the company’s stock, valued at $1,050. The trade was a 98.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,484 shares of company stock worth $993,933 in the last three months. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Semtech

Several institutional investors have recently bought and sold shares of SMTC. Hollencrest Capital Management purchased a new position in shares of Semtech during the 4th quarter valued at approximately $31,000. Dunhill Financial LLC purchased a new stake in Semtech in the 4th quarter worth $31,000. Smartleaf Asset Management LLC raised its position in Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 505 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Semtech during the fourth quarter valued at $52,000. Finally, AlphaQuest LLC lifted its holdings in Semtech by 173.5% during the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 772 shares in the last quarter.

Semtech Stock Performance

Shares of SMTC stock opened at $35.05 on Friday. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -2.69, a PEG ratio of 2.12 and a beta of 1.69. The stock’s 50-day simple moving average is $45.94 and its 200-day simple moving average is $50.95. Semtech has a fifty-two week low of $27.25 and a fifty-two week high of $79.52.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. As a group, equities analysts forecast that Semtech will post -0.02 earnings per share for the current year.

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.