Semtech (SMTC) Now Covered by Cowen

Analysts at Cowen began coverage on shares of Semtech (NASDAQ:SMTC) in a note issued to investors on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the semiconductor company’s stock.

Several other research analysts have also weighed in on SMTC. Zacks Investment Research upgraded shares of Semtech from a “sell” rating to a “hold” rating in a research report on Friday, February 1st. ValuEngine upgraded shares of Semtech from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 22nd. BidaskClub upgraded shares of Semtech from a “hold” rating to a “buy” rating in a research report on Wednesday, February 27th. B. Riley upped their target price on shares of Semtech from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Finally, Roth Capital lowered shares of Semtech from a “buy” rating to a “neutral” rating and set a $49.00 target price on the stock. in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. Semtech has an average rating of “Buy” and an average price target of $58.09.

NASDAQ SMTC traded up $0.39 during trading hours on Tuesday, hitting $44.76. 396,078 shares of the stock were exchanged, compared to its average volume of 642,738. The stock has a market capitalization of $2.92 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.95 and a beta of 1.65. Semtech has a 12-month low of $41.28 and a 12-month high of $60.55. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, March 13th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $160.00 million during the quarter, compared to analysts’ expectations of $158.48 million. Semtech had a net margin of 10.05% and a return on equity of 13.94%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. On average, equities research analysts expect that Semtech will post 1.2 earnings per share for the current fiscal year.

In other news, SVP James Jungsup Kim sold 2,500 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $57.37, for a total value of $143,425.00. Following the sale, the senior vice president now directly owns 41,375 shares in the company, valued at $2,373,683.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ye Jane Li sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $54.97, for a total transaction of $274,850.00. Following the completion of the sale, the director now owns 7,328 shares in the company, valued at $402,820.16. The disclosure for this sale can be found here. Insiders sold 121,114 shares of company stock worth $6,534,966 over the last quarter. Company insiders own 1.96% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SMTC. JPMorgan Chase & Co. raised its position in Semtech by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 64,824 shares of the semiconductor company’s stock valued at $3,604,000 after purchasing an additional 9,237 shares during the period. Teachers Advisors LLC raised its position in Semtech by 0.4% during the third quarter. Teachers Advisors LLC now owns 585,526 shares of the semiconductor company’s stock valued at $32,555,000 after purchasing an additional 2,183 shares during the period. Vanguard Group Inc raised its position in Semtech by 1.8% during the third quarter. Vanguard Group Inc now owns 6,807,219 shares of the semiconductor company’s stock valued at $378,481,000 after purchasing an additional 122,945 shares during the period. Meeder Asset Management Inc. raised its position in Semtech by 94.7% during the fourth quarter. Meeder Asset Management Inc. now owns 5,482 shares of the semiconductor company’s stock valued at $252,000 after purchasing an additional 2,667 shares during the period. Finally, Bank of Montreal Can raised its position in Semtech by 223.4% during the fourth quarter. Bank of Montreal Can now owns 8,283 shares of the semiconductor company’s stock valued at $381,000 after purchasing an additional 5,722 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications 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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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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