Semtech (NASDAQ:SMTC – Get Free Report) had its price target decreased by investment analysts at Robert W. Baird from $80.00 to $60.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Robert W. Baird’s price target points to a potential upside of 16.02% from the stock’s current price.
Several other research firms have also recently commented on SMTC. UBS Group began coverage on shares of Semtech in a research note on Friday, January 17th. They set a “buy” rating and a $85.00 target price for the company. Roth Mkm upped their price target on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Stifel Nicolaus boosted their price objective on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 6th. B. Riley lifted their price target on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Benchmark upped their target price on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and an average target price of $72.00.
Get Our Latest Stock Report on Semtech
Semtech Trading Down 14.5 %
Semtech (NASDAQ:SMTC – Get Free Report) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. The company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 earnings per share.
Insider Buying and Selling at Semtech
In other news, CFO Mark Lin sold 6,114 shares of the company’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 completion of the sale, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at $232,127.94. This represents a 63.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the sale, the senior vice president now owns 14 shares in the company, valued at $1,050. The trade was a 98.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,747 shares of company stock worth $1,095,061. Insiders own 0.60% of the company’s stock.
Hedge Funds Weigh In On Semtech
Several hedge funds and other institutional investors have recently made changes to their positions in SMTC. Huntington National Bank increased its position in Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after buying an additional 302 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after buying an additional 505 shares during the period. NBC Securities Inc. boosted its position in shares of Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 739 shares during the period. International Assets Investment Management LLC increased its position in Semtech by 4,464.9% during the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 1,652 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Semtech by 51.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 598 shares in 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.
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