Semtech Corporation (NASDAQ:SMTC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Semtech Corporation (NASDAQ:SMTC) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $59.5833.

A number of equities analysts have recently issued reports on SMTC shares. Stifel Nicolaus raised their price objective on Semtech from $45.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Needham & Company LLC restated a “buy” rating and set a $54.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. Morgan Stanley set a $43.00 price objective on Semtech in a research report on Wednesday, May 28th. Finally, UBS Group lowered their price objective on Semtech from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, May 5th.

Insider Buying and Selling

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value of $85,960.00. Following the completion of the sale, the chief operating officer owned 105,996 shares of the company’s stock, valued at approximately $4,555,708.08. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Lin sold 999 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total value of $43,796.16. Following the completion of the sale, the chief financial officer directly owned 17,211 shares of the company’s stock, valued at $754,530.24. This trade represents a 5.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Semtech

A number of hedge funds have recently added to or reduced their stakes in SMTC. Whale Rock Capital Management LLC grew 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 valued at $202,015,000 after acquiring an additional 2,562,602 shares during the period. Wellington Management Group LLP grew its stake in Semtech by 827.0% in the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock valued at $132,550,000 after acquiring an additional 1,911,890 shares during the period. Westfield Capital Management Co. LP acquired a new stake in Semtech in the first quarter valued at approximately $45,489,000. Ameriprise Financial Inc. lifted its holdings in shares of Semtech by 15.8% in the first quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company’s stock valued at $221,737,000 after purchasing an additional 877,422 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Semtech in the fourth quarter valued at approximately $51,315,000.

Semtech Price Performance

Semtech stock opened at $51.50 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $4.46 billion, a PE ratio of -25.00 and a beta of 1.94. Semtech has a 12 month low of $24.05 and a 12 month high of $79.52. The stock has a 50-day moving average price of $45.84 and a two-hundred day moving average price of $41.45.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The company had revenue of $251.10 million during the quarter, compared to the consensus estimate of $249.79 million. During the same period last year, the company earned $0.06 earnings per share. The firm’s revenue was up 21.8% compared to the same quarter last year. Analysts expect that Semtech will post -0.02 EPS for the current year.

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.