Semtech Co. (NASDAQ:SMTC - Get Free Report)'s share price dropped 5.5% during trading on Tuesday . The stock traded as low as $64.13 and last traded at $64.49. Approximately 235,871 shares changed hands during trading, a decline of 87% from the average daily volume of 1,868,792 shares. The stock had previously closed at $68.27.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Piper Sandler reissued an "overweight" rating and set a $75.00 price objective (up previously from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Summit Insights lowered shares of Semtech from a "buy" rating to a "hold" rating in a research report on Wednesday, August 28th. Craig Hallum boosted their price objective on shares of Semtech from $48.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Roth Mkm raised their target price on shares of Semtech from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Finally, Northland Securities boosted their target price on shares of Semtech from $60.00 to $66.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $68.70.
Check Out Our Latest Report on Semtech
Semtech Price Performance
The company has a market cap of $4.97 billion, a price-to-earnings ratio of -5.04 and a beta of 1.65. The business has a 50 day simple moving average of $52.45 and a 200 day simple moving average of $41.81.
Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $236.80 million during the quarter, compared to analysts' expectations of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The company's quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. As a group, sell-side analysts anticipate that Semtech Co. will post -0.01 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Semtech
A number of institutional investors and hedge funds have recently modified their holdings of SMTC. Huntington National Bank increased its stake in shares of Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 302 shares during the last quarter. NBC Securities Inc. boosted its position 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 purchasing an additional 739 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Semtech in the 2nd quarter valued at $44,000. International Assets Investment Management LLC raised its stake in Semtech by 4,464.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company's stock worth $77,000 after buying an additional 1,652 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Semtech during the second quarter worth about $60,000.
Semtech Company Profile
(
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.
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