Semtech (NASDAQ:SMTC) Price Target Raised to $60.00

Semtech (NASDAQ:SMTC) had its price objective upped by Roth Mkm from $50.00 to $60.00 in a research note issued to investors on Monday,Benzinga reports. Roth Mkm currently has a buy rating on the semiconductor company’s stock.

A number of other research firms also recently weighed in on SMTC. B. Riley upped their price target on Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Summit Insights downgraded shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus boosted their target price on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Benchmark reissued a “buy” rating and set a $56.00 price objective on shares of Semtech in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.70.

Semtech Stock Performance

Semtech stock opened at $64.20 on Monday. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of -4.86 and a beta of 1.54. Semtech has a 52-week low of $15.63 and a 52-week high of $66.64. The stock’s 50 day moving average price is $46.24 and its two-hundred day moving average price is $39.12.

Semtech (NASDAQ:SMTC) last posted 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. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. During the same period last year, the company posted $0.02 earnings per share. The business’s quarterly revenue was up 17.9% on a year-over-year basis. On average, equities research analysts forecast that Semtech will post -0.07 EPS for the current year.

Institutional Investors Weigh In On Semtech

Hedge funds have recently made changes to their positions in the business. Huntington National Bank raised its position in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 302 shares during the period. NBC Securities Inc. grew its stake in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 739 shares during the period. Ridgewood Investments LLC bought a new stake in Semtech in the 2nd quarter valued at about $44,000. International Assets Investment Management LLC increased its stake in shares of 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 in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Semtech in the 2nd quarter worth approximately $60,000.

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.