Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Craig Hallum Analyst Says

Semtech (NASDAQ:SMTC) had its price target boosted by investment analysts at Craig Hallum from $48.00 to $70.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price target indicates a potential upside of 9.03% from the company’s previous close.

Several other equities research analysts also recently weighed in on SMTC. Roth Mkm boosted their target price on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. B. Riley upped their price objective on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Benchmark reiterated a “buy” rating and issued a $56.00 target price on shares of Semtech in a research report on Monday, October 7th. Susquehanna boosted their price target on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Finally, Northland Securities raised their price objective on Semtech from $46.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and an average price target of $67.70.

Semtech Price Performance

Shares of Semtech stock opened at $64.20 on Tuesday. Semtech has a 1-year low of $15.63 and a 1-year high of $66.64. The company has a market capitalization of $4.83 billion, a PE ratio of -4.86 and a beta of 1.54. The business has a 50-day moving average of $46.24 and a 200-day moving average of $39.12.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. Semtech’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS. On average, equities analysts expect that Semtech will post -0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Semtech

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after purchasing an additional 131,133 shares during the period. Millennium Management LLC raised its holdings in shares of Semtech by 26.6% during the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after buying an additional 765,877 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Semtech by 4.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after buying an additional 114,999 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Semtech by 8.0% in the third quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after purchasing an additional 119,572 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Semtech during the 2nd quarter valued at about $43,395,000.

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.