Semtech Co. (NASDAQ:SMTC) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Semtech Co. (NASDAQ:SMTC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $69.70.

A number of equities research analysts recently weighed in on SMTC shares. Benchmark raised their price target on shares of Semtech from $56.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Needham & Company LLC boosted their price target on Semtech from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Roth Mkm increased their price target on Semtech from $50.00 to $60.00 and gave the company a "buy" rating in a report on Monday, November 25th. Northland Securities lifted their price objective on Semtech from $60.00 to $66.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. Finally, Susquehanna increased their target price on Semtech from $55.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, November 21st.

Insider Activity

In related news, CFO Mark Lin sold 6,114 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total value of $401,934.36. Following the completion of the transaction, the chief financial officer now directly owns 3,531 shares of the company's stock, valued at $232,127.94. This represents a 63.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of Semtech stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the sale, the senior vice president now directly owns 6,317 shares in the company, valued at $399,866.10. The trade was a 31.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,419 shares of company stock valued at $676,955. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Semtech

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank lifted its holdings in shares of Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company's stock valued at $27,000 after buying an additional 302 shares during the period. Canada Pension Plan Investment Board bought a new stake in Semtech in the second quarter worth about $60,000. NBC Securities Inc. boosted its position in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 739 shares in the last quarter. Quarry LP bought a new position in shares of Semtech during the 2nd quarter valued at about $63,000. Finally, International Assets Investment Management LLC grew its stake in shares of Semtech by 4,464.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company's stock worth $77,000 after purchasing an additional 1,652 shares during the last quarter.

Semtech Stock Performance

Semtech stock traded down $0.80 during trading on Monday, reaching $65.35. 1,002,804 shares of the company's stock were exchanged, compared to its average volume of 1,268,212. Semtech has a 52-week low of $18.16 and a 52-week high of $70.27. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of -5.01 and a beta of 1.65. The company's 50-day moving average is $59.60 and its two-hundred day moving average is $45.92.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company's revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 earnings per share. Analysts anticipate that Semtech will post -0.01 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.