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

Shares of Semtech Co. (NASDAQ:SMTC - Get Free Report) have earned an average rating of "Moderate Buy" from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have given 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 $57.33.

A number of research analysts have weighed in on SMTC shares. Needham & Company LLC restated a "buy" rating and issued a $54.00 price objective on shares of Semtech in a report on Friday, March 14th. Stifel Nicolaus lowered their price target on shares of Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Piper Sandler reaffirmed an "overweight" rating and set a $55.00 price objective (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Benchmark decreased their target price on shares of Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Finally, Morgan Stanley initiated coverage on Semtech in a report on Monday, April 7th. They issued an "equal weight" rating and a $30.00 price target for the company.

Semtech Trading Up 1.4 %

NASDAQ SMTC opened at $24.69 on Wednesday. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -1.89, a PEG ratio of 2.12 and a beta of 1.85. The stock has a 50-day moving average of $33.70 and a 200 day moving average of $48.95. Semtech has a twelve month low of $24.05 and a twelve month high of $79.52.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to analysts' expectations of $249.40 million. The company's quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.06) EPS. Equities analysts predict that Semtech will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Semtech news, CFO Mark Lin sold 10,890 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $34.68, for a total transaction of $377,665.20. Following the transaction, the chief financial officer now directly owns 11,625 shares in the company, valued at $403,155. This represents a 48.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 16,787 shares of company stock valued at $665,044 over the last 90 days. 0.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Semtech

Several institutional investors and hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC increased its stake in Semtech by 27.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company's stock worth $97,000 after purchasing an additional 337 shares during the period. GAMMA Investing LLC increased its stake in Semtech by 15.3% during the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company's stock worth $196,000 after buying an additional 421 shares during the period. Hollencrest Capital Management acquired a new stake in Semtech during the 4th quarter worth approximately $31,000. Dunhill Financial LLC acquired a new stake in Semtech during the 4th quarter worth approximately $31,000. Finally, Smartleaf Asset Management LLC boosted its position in Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock valued at $48,000 after buying an additional 505 shares during the period.

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.

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