Semtech (NASDAQ:SMTC) Given New $65.00 Price Target at Stifel Nicolaus

Semtech (NASDAQ:SMTC) had its price objective hoisted by Stifel Nicolaus from $58.00 to $65.00 in a research report released on Tuesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts also recently weighed in on SMTC. Susquehanna raised their price target on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Piper Sandler reissued an “overweight” rating and issued a $75.00 target price (up from $60.00) on shares of Semtech in a research note on Tuesday. Northland Securities increased their price target on shares of Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday. Roth Mkm boosted their price objective on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price (up from $50.00) on shares of Semtech in a research note on Tuesday. 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 Stock Up 18.1 %

NASDAQ:SMTC opened at $63.11 on Tuesday. Semtech has a twelve month low of $15.63 and a twelve month high of $66.64. The company has a market cap of $4.75 billion, a P/E ratio of -4.66 and a beta of 1.54. The business has a 50 day moving average price of $45.83 and a two-hundred day moving average price of $38.96.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same quarter last year, the firm earned $0.02 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, analysts anticipate that Semtech will post -0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Semtech by 1.6% in the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after acquiring an additional 131,133 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Semtech during the 2nd quarter worth approximately $13,239,000. Harbor Capital Advisors Inc. increased its holdings in shares of Semtech by 135.9% during the third quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock worth $1,943,000 after purchasing an additional 24,517 shares during the period. SG Capital Management LLC acquired a new stake in shares of Semtech in the first quarter valued at approximately $7,084,000. Finally, Fred Alger Management LLC acquired a new stake in Semtech during the second quarter worth approximately $14,307,000.

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.