Semtech Co. (NASDAQ:SMTC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Semtech Co. (NASDAQ:SMTC) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $71.09.

Several equities analysts recently issued reports on SMTC shares. Susquehanna boosted their price target on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Roth Mkm upped their target price on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Benchmark raised their target price on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price target (up from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. Finally, Northland Securities raised their price objective on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th.

Insider Buying and Selling

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the transaction, the chief operating officer now owns 76,417 shares in the company, valued at approximately $5,349,190. This represents a 2.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Lin sold 6,114 shares of Semtech stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the completion of the sale, the chief financial officer now owns 3,531 shares of the company’s stock, valued at $232,127.94. This represents a 63.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,419 shares of company stock worth $816,955 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Semtech

A number of large investors have recently added to or reduced their stakes in SMTC. Huntington National Bank boosted 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 worth $27,000 after buying an additional 302 shares during the last quarter. NBC Securities Inc. lifted its holdings in Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 739 shares during the period. International Assets Investment Management LLC boosted its position in Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 1,652 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Semtech during the 2nd quarter valued at about $60,000. Finally, Quarry LP purchased a new stake in shares of Semtech during the 2nd quarter valued at about $63,000.

Semtech Stock Performance

NASDAQ SMTC opened at $75.00 on Monday. The stock has a market cap of $5.68 billion, a P/E ratio of -5.75 and a beta of 1.65. Semtech has a fifty-two week low of $18.72 and a fifty-two week high of $75.75. The stock has a 50 day simple moving average of $61.68 and a two-hundred day simple moving average of $47.27.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 earnings per share.

Semtech Company Profile

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.