Analysts Set Semtech Co. (NASDAQ:SMTC) Target Price at $61.55

Shares of Semtech Co. (NASDAQ:SMTC) have earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $61.55.

Several research analysts have recently commented on SMTC shares. Stifel Nicolaus cut their price objective on Semtech from $60.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 14th. Benchmark cut their price target on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, March 14th. UBS Group dropped their price objective on shares of Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, March 14th. Craig Hallum reduced their target price on Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price target (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th.

Insiders Place Their Bets

In other Semtech news, CFO Mark Lin sold 1,359 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $65.15, for a total value of $88,538.85. Following the sale, the chief financial officer now owns 4,164 shares of the company’s stock, valued at $271,284.60. This trade represents a 24.61 % decrease in their position. The sale 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 shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the transaction, the senior vice president now directly owns 14 shares of the company’s stock, valued at approximately $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,484 shares of company stock valued at $993,933 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Semtech

Large investors have recently made changes to their positions in the business. Whale Rock Capital Management LLC lifted its stake in Semtech by 364.2% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company’s stock worth $202,015,000 after acquiring an additional 2,562,602 shares during the period. Wellington Management Group LLP lifted its position in shares of Semtech by 827.0% in the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock worth $132,550,000 after purchasing an additional 1,911,890 shares during the period. Vanguard Group Inc. boosted its stake in shares of Semtech by 13.0% during the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock valued at $713,906,000 after purchasing an additional 1,326,226 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Semtech during the fourth quarter valued at about $51,315,000. Finally, Fred Alger Management LLC raised its stake in Semtech by 122.6% in the fourth quarter. Fred Alger Management LLC now owns 1,491,844 shares of the semiconductor company’s stock worth $92,271,000 after buying an additional 821,671 shares in the last quarter.

Semtech Trading Up 5.0 %

Semtech stock opened at $36.62 on Friday. Semtech has a 1-year low of $27.25 and a 1-year high of $79.52. The firm has a market capitalization of $3.17 billion, a PE ratio of -2.81, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. The firm’s 50 day simple moving average is $43.50 and its 200 day simple moving average is $50.91.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $249.40 million. During the same quarter last year, the business posted ($0.06) EPS. The company’s quarterly revenue was up 30.1% on a year-over-year basis. Research analysts forecast that Semtech will post -0.02 earnings per share for the current year.

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.