Semtech Co. (NASDAQ:SMTC - Get Free Report)'s stock price was up 4.9% during mid-day trading on Tuesday . The company traded as high as $47.21 and last traded at $47.16. Approximately 441,792 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,853,161 shares. The stock had previously closed at $44.97.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on SMTC. Stifel Nicolaus raised their price objective on Semtech from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. B. Riley raised their target price on shares of Semtech from $58.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Roth Mkm reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Finally, Benchmark restated a "buy" rating and issued a $56.00 price objective on shares of Semtech in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.60.
Get Our Latest Report on Semtech
Semtech Price Performance
The business's fifty day simple moving average is $42.83 and its two-hundred day simple moving average is $37.30. The company has a market cap of $3.59 billion, a PE ratio of -3.52 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The business had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. During the same period last year, the firm posted ($0.06) earnings per share. The company's revenue was down 9.6% compared to the same quarter last year. As a group, analysts predict that Semtech Co. will post -0.07 EPS for the current year.
Institutional Investors Weigh In On Semtech
A number of hedge funds have recently modified their holdings of SMTC. Arizona State Retirement System boosted its holdings in Semtech by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company's stock valued at $540,000 after purchasing an additional 407 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Semtech by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company's stock worth $214,000 after acquiring an additional 461 shares during the period. Creative Planning lifted its holdings in shares of Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company's stock worth $538,000 after acquiring an additional 588 shares during the period. Louisiana State Employees Retirement System boosted its stake in Semtech by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company's stock valued at $971,000 after buying an additional 700 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Semtech by 4.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,482 shares of the semiconductor company's stock worth $463,000 after buying an additional 710 shares during the last quarter.
Semtech Company Profile
(
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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.
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