Semtech (NASDAQ:SMTC - Get Free Report) had its price objective decreased by analysts at Craig Hallum from $70.00 to $55.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm presently has a "buy" rating on the semiconductor company's stock. Craig Hallum's target price suggests a potential upside of 38.89% from the company's previous close.
Several other research analysts have also recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $54.00 price objective on shares of Semtech in a research report on Friday. Northland Securities upped their price objective on Semtech from $60.00 to $66.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. B. Riley upped their price objective on Semtech from $61.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Stifel Nicolaus set a $60.00 target price on Semtech in a report on Monday, March 10th. Finally, Susquehanna boosted their target price on Semtech from $55.00 to $60.00 and gave the company a "positive" rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.55.
Check Out Our Latest Analysis on SMTC
Semtech Price Performance
Shares of SMTC stock traded up $6.89 on Friday, hitting $39.60. The stock had a trading volume of 8,102,007 shares, compared to its average volume of 2,917,376. The firm has a market capitalization of $3.00 billion, a P/E ratio of -3.03, a P/E/G ratio of 2.12 and a beta of 1.69. Semtech has a 1 year low of $21.56 and a 1 year high of $79.52. The company's 50 day moving average price is $51.73 and its 200-day moving average price is $51.23.
Semtech (NASDAQ:SMTC - Get Free Report) last released its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. The company's revenue for the quarter was up 30.1% compared to the same quarter last year. On average, equities analysts forecast that Semtech will post -0.02 EPS for the current year.
Insider Transactions at Semtech
In other news, CFO Mark Lin sold 10,890 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 11,625 shares of the company's stock, valued at approximately $403,155. This represents a 48.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the transaction, the senior vice president now directly owns 6,317 shares of the company's stock, valued at approximately $399,866.10. This trade represents a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,637 shares of company stock valued at $1,472,726. Corporate insiders own 0.60% of the company's stock.
Institutional Investors Weigh In On Semtech
A number of institutional investors and hedge funds have recently modified their holdings of SMTC. Huntington National Bank grew its holdings in shares of Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 302 shares during the period. Hollencrest Capital Management acquired a new stake in Semtech during the 4th quarter valued at $31,000. Dunhill Financial LLC acquired a new stake in Semtech during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC grew its holdings in Semtech by 190.6% during 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 last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Semtech during the 4th quarter valued at $52,000.
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.
Further Reading
Before you consider Semtech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Semtech wasn't on the list.
While Semtech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
