Stifel Nicolaus Cuts Semtech (NASDAQ:SMTC) Price Target to $70.00

Semtech (NASDAQ:SMTC) had its price target cut by Stifel Nicolaus from $75.00 to $70.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

SMTC has been the subject of a number of other research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 target price (down previously from $75.00) on shares of Semtech in a report on Monday. Robert W. Baird lowered their target price on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Benchmark increased their price target on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. B. Riley increased their price target on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Susquehanna increased their price target on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $67.91.

Semtech Stock Performance

Semtech stock opened at $36.65 on Monday. Semtech has a 52 week low of $19.12 and a 52 week high of $79.52. The stock has a fifty day moving average of $64.12 and a 200-day moving average of $50.75. The stock has a market capitalization of $2.77 billion, a P/E ratio of -2.81, a price-to-earnings-growth ratio of 2.98 and a beta of 1.64.

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

Insider Activity at Semtech

In other Semtech news, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $399,866.10. This represents a 31.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Lin sold 6,114 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 3,531 shares in the company, valued at approximately $232,127.94. The trade was a 63.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,747 shares of company stock worth $1,095,061 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its holdings in Semtech by 6.3% in the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 673 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Semtech by 148.6% in the fourth quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock valued at $1,272,000 after purchasing an additional 12,296 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 17,150 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of 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 purchasing an additional 17,823 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Semtech by 135.9% in the third quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock valued at $1,943,000 after purchasing an additional 24,517 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.