Semtech Co. (NASDAQ:SMTC) Receives $71.09 Consensus Target Price from Brokerages

Semtech Co. (NASDAQ:SMTC) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are covering the firm, MarketBeat reports. Two equities research analysts have 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 issued ratings on the stock in the last year is $67.91.

SMTC has been the topic of several recent research reports. Susquehanna raised their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Needham & Company LLC dropped their price objective on Semtech from $74.00 to $54.00 and set a “buy” rating for the company in a report on Monday. Piper Sandler reiterated an “overweight” rating and set a $55.00 target price (down from $75.00) on shares of Semtech in a research report on Monday. Roth Mkm raised their price target on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Robert W. Baird cut their price objective on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, February 7th.

Semtech Price Performance

Shares of NASDAQ SMTC opened at $38.18 on Friday. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -2.93, a P/E/G ratio of 2.98 and a beta of 1.64. The stock’s fifty day moving average price is $64.77 and its two-hundred day moving average price is $50.85. Semtech has a one year low of $19.12 and a one year high of $79.52.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. During the same quarter last year, the company posted $0.02 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis.

Insider Activity at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the sale, the chief operating officer now owns 76,417 shares in the company, valued at $5,349,190. The trade was a 2.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,747 shares of company stock valued at $1,095,061. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Semtech

Institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new position in shares of Semtech during the fourth quarter valued at $31,000. Huntington National Bank increased its holdings in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares during the period. Smartleaf Asset Management LLC raised 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 purchasing an additional 505 shares during the last quarter. AlphaQuest LLC lifted its holdings in Semtech by 173.5% during the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after buying an additional 772 shares during the period. Finally, NBC Securities Inc. grew its position in shares of Semtech by 115.8% in the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 739 shares during the last quarter.

About Semtech

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.