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

Semtech (NASDAQ:SMTC) had its target price raised by Northland Securities from $46.00 to $60.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Northland Securities currently has an outperform rating on the semiconductor company’s stock.

SMTC has been the subject of a number of other reports. Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Benchmark reissued a “buy” rating and set a $56.00 target price on shares of Semtech in a research note on Monday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Roth Mkm upped their price target on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday. Finally, Stifel Nicolaus raised their price objective on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.70.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $63.11 on Tuesday. The firm’s 50 day simple moving average is $45.83 and its 200 day simple moving average is $38.96. Semtech has a fifty-two week low of $15.63 and a fifty-two week high of $66.64. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of -4.66 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same period last year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities research analysts expect that Semtech will post -0.07 earnings per share for the current year.

Institutional Trading of Semtech

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after purchasing an additional 131,133 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Semtech in the second quarter valued at $13,239,000. Harbor Capital Advisors Inc. increased its holdings in 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 buying an additional 24,517 shares during the last quarter. SG Capital Management LLC acquired a new position in Semtech during the first quarter worth $7,084,000. Finally, Fred Alger Management LLC bought a new stake in Semtech during the second quarter worth $14,307,000.

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.