Semtech Co. (NASDAQ:SMTC) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Semtech Co. (NASDAQ:SMTC - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twelve research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $52.60.

Several brokerages have recently issued reports on SMTC. Benchmark reiterated a "buy" rating and issued a $56.00 target price on shares of Semtech in a research report on Monday, September 9th. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights downgraded Semtech from a "buy" rating to a "hold" rating in a research report on Wednesday, August 28th. B. Riley boosted their price target on Semtech from $58.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus increased their price objective on Semtech from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th.

Semtech Stock Up 2.7 %

Shares of NASDAQ:SMTC traded up $1.10 during trading on Friday, reaching $41.68. 1,615,611 shares of the company's stock traded hands, compared to its average volume of 1,776,411. Semtech has a fifty-two week low of $13.13 and a fifty-two week high of $49.53. The company has a 50-day simple moving average of $38.61 and a 200-day simple moving average of $35.35. The firm has a market cap of $3.14 billion, a PE ratio of -2.46 and a beta of 1.54.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The business had revenue of $215.40 million during the quarter, compared to analysts' expectations of $212.30 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The business's revenue was down 9.6% compared to the same quarter last year. On average, equities research analysts forecast that Semtech will post -0.07 EPS for the current year.

Institutional Trading of Semtech

A number of hedge funds and other institutional investors have recently made changes to their positions in SMTC. Vanguard Group Inc. increased its position in shares of Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company's stock worth $232,522,000 after purchasing an additional 131,133 shares during the last quarter. Millennium Management LLC increased its position in shares of Semtech by 26.6% during the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company's stock valued at $108,956,000 after acquiring an additional 765,877 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Semtech by 343.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company's stock valued at $74,550,000 after acquiring an additional 1,932,116 shares during the period. Kodai Capital Management LP lifted its holdings in shares of Semtech by 2.7% in the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company's stock worth $56,075,000 after acquiring an additional 54,267 shares during the last quarter. Finally, Contour Asset Management LLC boosted its position in shares of Semtech by 2.6% during the 4th quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company's stock worth $32,072,000 after purchasing an additional 36,838 shares during the period.

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.