Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Craig Hallum Analyst Says

Semtech (NASDAQ:SMTC) had its price objective hoisted by Craig Hallum from $48.00 to $70.00 in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s target price suggests a potential upside of 30.99% from the company’s previous close.

SMTC has been the topic of a number of other reports. Roth Mkm lifted their price target on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. 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 report on Thursday, November 21st. Stifel Nicolaus increased their price target on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. B. Riley boosted their price objective on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and an average price target of $59.70.

Semtech Stock Performance

Shares of Semtech stock opened at $53.44 on Tuesday. The company has a market cap of $4.02 billion, a P/E ratio of -3.94 and a beta of 1.54. The firm has a fifty day moving average of $45.83 and a two-hundred day moving average of $38.96. Semtech has a one year low of $15.63 and a one year high of $53.74.

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, topping the consensus estimate of $0.23 by $0.03. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The firm had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. During the same period in the prior year, the company posted $0.02 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, equities analysts predict that Semtech will post -0.07 earnings per share for the current year.

Institutional Trading of Semtech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMTC. Disciplined Growth Investors Inc. MN lifted its holdings in Semtech by 343.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after purchasing an additional 1,932,116 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Semtech during the second quarter worth about $43,395,000. Millennium Management LLC raised its position in shares of Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after buying an additional 765,877 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in shares of Semtech during the third quarter valued at approximately $32,126,000. Finally, Clearline Capital LP boosted its position in Semtech by 143.1% during the second quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock worth $26,863,000 after acquiring an additional 529,194 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.