Semtech Co. (NASDAQ:SMTC) Receives Average Rating of "Moderate Buy" from Analysts

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

Several research analysts have commented on the stock. Summit Insights lowered shares of Semtech from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th. Benchmark reissued a "buy" rating and issued a $56.00 price objective on shares of Semtech in a research report on Monday, October 7th. Stifel Nicolaus upped their target price on Semtech from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. Roth Mkm reissued a "buy" rating and set a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Finally, B. Riley raised their price target on shares of Semtech from $58.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th.

Semtech Stock Down 1.5 %

SMTC stock traded down $0.73 during mid-day trading on Wednesday, hitting $47.03. The company had a trading volume of 542,125 shares, compared to its average volume of 1,852,118. The company has a 50-day moving average price of $42.83 and a 200 day moving average price of $37.30. Semtech has a 12-month low of $13.35 and a 12-month high of $49.53. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -3.52 and a beta of 1.54.

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

Institutional Trading of Semtech

Several hedge funds and other institutional investors have recently made changes to their positions in SMTC. Mirae Asset Global Investments Co. Ltd. raised its stake in Semtech by 7.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,381 shares of the semiconductor company's stock valued at $1,605,000 after buying an additional 4,068 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Semtech during the 1st quarter worth approximately $1,189,000. Fidelis Capital Partners LLC acquired a new position in Semtech during the 1st quarter valued at approximately $27,000. Texas Permanent School Fund Corp raised its holdings in shares of Semtech by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 56,053 shares of the semiconductor company's stock worth $1,541,000 after buying an additional 875 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Semtech by 5,613.9% during the first quarter. SG Americas Securities LLC now owns 426,886 shares of the semiconductor company's stock worth $11,735,000 after buying an additional 419,415 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.