Semtech (NASDAQ:SMTC - Free Report) had its target price raised by Needham & Company LLC from $70.00 to $74.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the semiconductor company's stock.
SMTC has been the subject of a number of other research reports. Benchmark lifted their price objective on Semtech from $56.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Roth Mkm increased their price target on shares of Semtech from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Susquehanna increased their target price on Semtech from $55.00 to $60.00 and gave the stock a "positive" rating in a research report on Thursday, November 21st. Piper Sandler reissued an "overweight" rating and set a $75.00 price target (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Finally, Northland Securities raised their price objective on Semtech from $60.00 to $66.00 and gave the stock an "outperform" rating in a report on Tuesday. Three 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, Semtech presently has a consensus rating of "Moderate Buy" and an average price target of $68.70.
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Semtech Price Performance
Semtech stock traded up $0.43 during trading hours on Thursday, hitting $64.54. The stock had a trading volume of 1,194,670 shares, compared to its average volume of 1,874,603. Semtech has a 1-year low of $18.16 and a 1-year high of $70.27. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of -4.91 and a beta of 1.65. The stock's fifty day moving average is $50.53 and its two-hundred day moving average is $41.06.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The firm had revenue of $236.80 million for the quarter, compared to analysts' expectations of $232.89 million. During the same period in the prior year, the company earned $0.02 EPS. The firm's revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Semtech will post -0.02 EPS for the current year.
Institutional Investors Weigh In On Semtech
Large investors have recently modified their holdings of the stock. Disciplined Growth Investors Inc. MN lifted its position in Semtech by 343.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company's stock worth $74,550,000 after acquiring an additional 1,932,116 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Semtech during the second quarter valued at approximately $43,395,000. Millennium Management LLC lifted its position in shares of Semtech by 26.6% during the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company's stock worth $108,956,000 after purchasing an additional 765,877 shares in the last quarter. Whale Rock Capital Management LLC purchased a new position in shares of Semtech in the third quarter valued at $32,126,000. Finally, Clearline Capital LP grew its holdings in Semtech by 143.1% during the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company's stock valued at $26,863,000 after purchasing an additional 529,194 shares in the last quarter.
About Semtech
(
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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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