Semtech Co. (NASDAQ:SMTC) has earned a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $56.90.
A number of equities research analysts recently commented on the stock. Wells Fargo & Co assumed coverage on shares of Semtech in a report on Tuesday. They set an “outperform” rating and a $48.03 price target for the company. Zacks Investment Research upgraded shares of Semtech from a “strong sell” rating to a “hold” rating in a report on Tuesday. BidaskClub lowered shares of Semtech from a “hold” rating to a “sell” rating in a report on Friday, May 10th. B. Riley upped their price objective on shares of Semtech from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Finally, Loop Capital upgraded shares of Semtech to a “buy” rating in a report on Monday, March 18th.
NASDAQ:SMTC traded down $2.00 during midday trading on Friday, reaching $44.69. 667,174 shares of the stock traded hands, compared to its average volume of 644,471. Semtech has a 12 month low of $41.28 and a 12 month high of $60.55. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.98 billion, a P/E ratio of 33.60, a P/E/G ratio of 3.17 and a beta of 1.65.
Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, March 13th. The semiconductor company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. Semtech had a net margin of 10.05% and a return on equity of 13.94%. The company had revenue of $160.00 million during the quarter, compared to analyst estimates of $158.48 million. During the same period in the prior year, the business posted $0.42 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, analysts anticipate that Semtech will post 1.23 EPS for the current year.
In other Semtech news, insider Mohan Maheswaran sold 25,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $52.48, for a total value of $1,312,000.00. Following the completion of the transaction, the insider now directly owns 241,714 shares in the company, valued at approximately $12,685,150.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emeka Chukwu sold 1,100 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $54.97, for a total transaction of $60,467.00. Following the completion of the transaction, the chief financial officer now owns 98,297 shares of the company’s stock, valued at $5,403,386.09. The disclosure for this sale can be found here. Insiders sold a total of 121,114 shares of company stock valued at $6,534,966 over the last 90 days. Company insiders own 1.96% of the company’s stock.
Several institutional investors have recently modified their holdings of SMTC. Oregon Public Employees Retirement Fund bought a new position in shares of Semtech in the 4th quarter worth about $25,000. Pearl River Capital LLC bought a new position in shares of Semtech in the 4th quarter worth about $25,000. Cutler Group LP bought a new position in shares of Semtech in the 4th quarter worth about $27,000. Cullen Frost Bankers Inc. bought a new position in shares of Semtech in the 1st quarter worth about $27,000. Finally, Enlightenment Research LLC bought a new position in shares of Semtech in the 4th quarter worth about $28,000. Institutional investors own 97.75% of the company’s stock.
Semtech Company Profile
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications 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: How are institutional investors different from individual investors?
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