Semtech (NASDAQ:SMTC) Given New $66.00 Price Target at Northland Securities

Semtech (NASDAQ:SMTC - Get Free Report) had its price target increased by equities research analysts at Northland Securities from $60.00 to $66.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the semiconductor company's stock. Northland Securities' price target points to a potential upside of 4.93% from the stock's current price.

A number of other analysts have also recently commented on SMTC. B. Riley lifted their target price on shares of Semtech from $61.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Summit Insights lowered shares of Semtech from a "buy" rating to a "hold" rating in a report on Wednesday, August 28th. Craig Hallum boosted their price target on shares of Semtech from $48.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Roth Mkm lifted their target price 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. Finally, Stifel Nicolaus lifted their target price on shares of Semtech from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.30.

Semtech Stock Performance

SMTC stock traded down $2.04 during trading on Tuesday, hitting $62.90. 3,406,126 shares of the company's stock traded hands, compared to its average volume of 1,879,723. Semtech has a 52 week low of $18.16 and a 52 week high of $70.27. The business has a fifty day simple moving average of $49.65 and a 200 day simple moving average of $40.74. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -4.98 and a beta of 1.65.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business's revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. Research analysts forecast that Semtech will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Semtech

Institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank increased its stake in shares of Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company's stock worth $27,000 after buying an additional 302 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of Semtech during the second quarter worth approximately $44,000. Canada Pension Plan Investment Board purchased a new stake in shares of Semtech during the second quarter worth approximately $60,000. NBC Securities Inc. increased its stake in shares of Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company's stock worth $62,000 after buying an additional 739 shares during the period. Finally, Quarry LP acquired a new position in Semtech in the second quarter valued at approximately $63,000.

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.