Semtech (NASDAQ:SMTC – Get Free Report) had its target price increased by equities research analysts at Stifel Nicolaus from $65.00 to $75.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 15.12% from the stock’s current price.
A number of other brokerages also recently issued reports on SMTC. Craig Hallum boosted 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. Benchmark increased their price target on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Roth Mkm raised their price target on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Northland Securities upped their price objective on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, B. Riley raised their target price on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.70.
View Our Latest Analysis on SMTC
Semtech Trading Down 3.5 %
Semtech (NASDAQ:SMTC – Get Free Report) last issued its 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 99.08% 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 quarter last year, the company posted $0.02 earnings per share. The firm’s revenue was up 17.9% compared to the same quarter last year. As a group, analysts predict that Semtech will post -0.01 EPS for the current fiscal year.
Insider Activity at Semtech
In other news, SVP Imran Sherazi sold 2,946 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the transaction, the senior vice president now owns 6,317 shares of the company’s stock, valued at $399,866.10. This represents a 31.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Lin sold 6,114 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total value of $401,934.36. Following the sale, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at $232,127.94. The trade was a 63.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,419 shares of company stock valued at $676,955. 0.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of SMTC. Mutual of America Capital Management LLC increased its stake in Semtech by 6.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after buying an additional 673 shares during the period. Intech Investment Management LLC lifted its position in Semtech by 128.3% in the third quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock valued at $1,394,000 after acquiring an additional 17,150 shares during the last quarter. Natixis Advisors LLC boosted its stake in Semtech by 100.2% in the third quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company’s stock valued at $1,626,000 after acquiring an additional 17,823 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Semtech by 135.9% during the third quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock worth $1,943,000 after purchasing an additional 24,517 shares during the last quarter. Finally, Atom Investors LP purchased a new position in shares of Semtech during the third quarter worth about $2,186,000.
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.
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