Drexel Hamilton reissued their buy rating on shares of Semtech Corp. (NASDAQ:SMTC) in a research report report published on Saturday morning. The brokerage currently has a $32.00 target price on the stock.
A number of other research firms also recently weighed in on SMTC. B. Riley restated a buy rating and issued a $31.50 price target on shares of Semtech Corp. in a research note on Monday, June 20th. Zacks Investment Research downgraded shares of Semtech Corp. from a buy rating to a hold rating in a research note on Wednesday, August 3rd. MKM Partners restated a hold rating on shares of Semtech Corp. in a research note on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. restated a market perform rating on shares of Semtech Corp. in a research note on Monday, September 5th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $27.33.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 27.53 on Friday. The firm has a 50-day moving average of $27.07 and a 200 day moving average of $24.23. Semtech Corp. has a 52 week low of $15.70 and a 52 week high of $28.21. The company has a market cap of $1.81 billion, a P/E ratio of 65.39 and a beta of 1.37.
Semtech Corp. (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, August 31st. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The company had revenue of $135.90 million for the quarter. During the same quarter in the previous year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts anticipate that Semtech Corp. will post $1.34 earnings per share for the current fiscal year.
In other news, insider Mohan Maheswaran sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $26.40, for a total value of $39,600.00. Following the transaction, the insider now owns 183,367 shares in the company, valued at approximately $4,840,888.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark C. Costello sold 3,042 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $27.47, for a total transaction of $83,563.74. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning increased its position in shares of Semtech Corp. by 0.4% in the second quarter. Creative Planning now owns 6,528 shares of the company’s stock worth $156,000 after buying an additional 28 shares during the period. PineBridge Investments L.P. increased its position in shares of Semtech Corp. by 4.4% in the second quarter. PineBridge Investments L.P. now owns 8,278 shares of the company’s stock worth $198,000 after buying an additional 348 shares during the period. Teacher Retirement System of Texas increased its position in shares of Semtech Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,134 shares of the company’s stock worth $218,000 after buying an additional 1,105 shares during the period. Zacks Investment Management purchased a new position in shares of Semtech Corp. during the second quarter worth about $224,000. Finally, Aspen Investment Management Inc purchased a new position in shares of Semtech Corp. during the second quarter worth about $230,000. Hedge funds and other institutional investors own 95.43% of the company’s stock.
About Semtech Corp.
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
Receive News & Ratings for Semtech Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech Corp. and related companies with MarketBeat.com's FREE daily email newsletter.