Semtech (NASDAQ:SMTC - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday.
A number of other research analysts have also issued reports on the stock. Stifel Nicolaus raised their target price on shares of Semtech from $43.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday. Piper Sandler restated an "overweight" rating and issued a $60.00 price target (up from $40.00) on shares of Semtech in a research report on Wednesday, May 29th. Robert W. Baird raised their price target on shares of Semtech from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Monday, April 1st. B. Riley raised their price target on shares of Semtech from $43.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, May 17th. Finally, Oppenheimer restated a "market perform" rating on shares of Semtech in a research report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.90.
Check Out Our Latest Stock Report on SMTC
Semtech Stock Down 1.8 %
SMTC stock traded down $0.70 during midday trading on Thursday, reaching $37.98. The company had a trading volume of 6,631,563 shares, compared to its average volume of 1,912,831. Semtech has a 1 year low of $13.13 and a 1 year high of $46.86. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11. The company has a market capitalization of $2.45 billion, a P/E ratio of -2.23 and a beta of 1.63. The company has a 50 day moving average of $36.41 and a two-hundred day moving average of $26.14.
Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). The business had revenue of $192.95 million for the quarter, compared to the consensus estimate of $191.24 million. Semtech had a negative net margin of 125.70% and a negative return on equity of 9.41%. On average, equities research analysts expect that Semtech will post -0.08 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Mark Lin bought 1,000 shares of the company's stock in a transaction on Monday, April 8th. The stock was bought at an average cost of $33.23 per share, with a total value of $33,230.00. Following the completion of the purchase, the chief financial officer now owns 1,000 shares in the company, valued at approximately $33,230. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company's stock.
Institutional Investors Weigh In On Semtech
Several institutional investors have recently modified their holdings of SMTC. Kodai Capital Management LP acquired a new stake in shares of Semtech during the 4th quarter worth approximately $43,504,000. Ameriprise Financial Inc. grew its holdings in Semtech by 58.9% during the third quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company's stock valued at $101,927,000 after purchasing an additional 1,466,665 shares during the period. Invesco Ltd. grew its holdings in Semtech by 215.9% during the third quarter. Invesco Ltd. now owns 947,997 shares of the semiconductor company's stock valued at $24,411,000 after purchasing an additional 647,893 shares during the period. Victory Capital Management Inc. grew its holdings in Semtech by 81.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,369,043 shares of the semiconductor company's stock valued at $29,996,000 after purchasing an additional 613,274 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Semtech by 5,613.9% during the first quarter. SG Americas Securities LLC now owns 426,886 shares of the semiconductor company's stock valued at $11,735,000 after purchasing an additional 419,415 shares during the period.
About Semtech
(
Get Free Report)
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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