Equities researchers at Robert W. Baird assumed coverage on shares of Semtech Co. (NASDAQ:SMTC) in a report released on Tuesday, May 9th. The firm set an “outperform” rating and a $45.00 price target on the semiconductor company’s stock. Robert W. Baird’s target price suggests a potential upside of 21.46% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $44.00 target price on shares of Semtech in a report on Saturday, March 11th. Drexel Hamilton reaffirmed a “buy” rating and issued a $42.00 target price (up previously from $35.00) on shares of Semtech in a report on Thursday, March 9th. DA Davidson upped their target price on shares of Semtech from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 9th. Summit Redstone reaffirmed a “buy” rating on shares of Semtech in a report on Thursday, January 19th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $42.00 target price (up previously from $36.00) on shares of Semtech in a report on Monday, March 13th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Semtech presently has a consensus rating of “Buy” and an average target price of $41.00.
Shares of Semtech (SMTC) opened at 37.05 on Tuesday. Semtech has a 12 month low of $21.35 and a 12 month high of $38.40. The stock has a market capitalization of $2.44 billion, a PE ratio of 44.64 and a beta of 1.40. The company has a 50-day moving average of $35.00 and a 200-day moving average of $33.09.
Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The firm had revenue of $149.10 million for the quarter, compared to analyst estimates of $145.60 million. Semtech had a net margin of 9.16% and a return on equity of 10.40%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. On average, equities research analysts expect that Semtech will post $1.85 EPS for the current fiscal year.
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In related news, insider Mohan Maheswaran sold 1,500 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $36.27, for a total value of $54,405.00. Following the completion of the transaction, the insider now directly owns 196,811 shares of the company’s stock, valued at $7,138,334.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Emeka Chukwu sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $37.02, for a total transaction of $74,040.00. Following the completion of the transaction, the vice president now directly owns 77,776 shares of the company’s stock, valued at $2,879,267.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,871 shares of company stock worth $1,339,011. Corporate insiders own 2.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its position in Semtech by 0.3% in the third quarter. Louisiana State Employees Retirement System now owns 29,000 shares of the semiconductor company’s stock valued at $804,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Semtech by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 7,280 shares of the semiconductor company’s stock valued at $246,000 after buying an additional 180 shares in the last quarter. Martingale Asset Management L P boosted its position in Semtech by 0.3% in the first quarter. Martingale Asset Management L P now owns 67,624 shares of the semiconductor company’s stock valued at $2,286,000 after buying an additional 198 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Semtech by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 14,510 shares of the semiconductor company’s stock valued at $402,000 after buying an additional 260 shares in the last quarter. Finally, Chicago Equity Partners LLC increased its stake in shares of Semtech by 1.2% in the first quarter. Chicago Equity Partners LLC now owns 28,340 shares of the semiconductor company’s stock valued at $958,000 after buying an additional 340 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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