Northland Securities Issues Positive Forecast for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its price objective lifted by Northland Securities from $46.00 to $60.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Semtech in a report on Wednesday, August 28th. Benchmark reissued a “buy” rating and issued a $56.00 price objective on shares of Semtech in a report on Monday, October 7th. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus lifted their price objective on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Roth Mkm upped their price objective on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average price target of $67.70.

Semtech Price Performance

Shares of SMTC stock opened at $64.20 on Tuesday. The stock’s fifty day moving average price is $46.64 and its 200 day moving average price is $39.30. Semtech has a 1-year low of $15.63 and a 1-year high of $66.64. The company has a market cap of $4.83 billion, a price-to-earnings ratio of -4.74 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm 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 company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.02 earnings per share. As a group, equities research analysts anticipate that Semtech will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On Semtech

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in Semtech by 8.0% during the third quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after purchasing an additional 119,572 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Semtech by 4.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after buying an additional 114,999 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Semtech in the 3rd quarter valued at $763,000. Wellington Management Group LLP purchased a new stake in Semtech in the 3rd quarter worth $10,556,000. Finally, Whale Rock Capital Management LLC acquired a new position in Semtech during the third quarter worth $32,126,000.

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.