Semtech Corp. (SMTC) Rating Reiterated by Drexel Hamilton
Several other equities research analysts have also weighed in on SMTC. B. Riley restated a buy rating and issued a $31.50 target price on shares of Semtech Corp. in a report on Monday, June 20th. MKM Partners reiterated a hold rating on shares of Semtech Corp. in a report on Thursday, June 23rd. Zacks Investment Research lowered Semtech Corp. from a buy rating to a hold rating in a report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. reiterated a market perform rating on shares of Semtech Corp. in a report on Monday, September 5th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Semtech Corp. currently has a consensus rating of Buy and an average target price of $27.33.
Semtech Corp. (NASDAQ:SMTC) opened at 27.53 on Friday. Semtech Corp. has a 12-month low of $15.70 and a 12-month high of $28.21. The firm has a 50-day moving average of $27.07 and a 200-day moving average of $24.23. The firm has a market cap of $1.81 billion, a P/E ratio of 65.39 and a beta of 1.37.
Semtech Corp. (NASDAQ:SMTC) last posted its earnings results on Wednesday, August 31st. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Semtech Corp. had a return on equity of 8.89% and a net margin of 5.55%. The firm earned $135.90 million during the quarter. During the same quarter last year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts expect that Semtech Corp. will post $1.34 EPS for the current year.
In other news, VP Mark C. Costello sold 3,042 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $27.47, for a total transaction of $83,563.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mohan Maheswaran sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $26.40, for a total value of $39,600.00. Following the sale, the insider now owns 183,367 shares in the company, valued at $4,840,888.80. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SMTC. Frontier Capital Management Co. LLC boosted its stake in Semtech Corp. by 36.1% in the second quarter. Frontier Capital Management Co. LLC now owns 2,442,524 shares of the company’s stock worth $58,279,000 after buying an additional 648,271 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Semtech Corp. by 841.3% in the first quarter. UBS Asset Management Americas Inc. now owns 420,048 shares of the company’s stock worth $9,236,000 after buying an additional 375,422 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of Semtech Corp. during the second quarter worth $5,778,000. Vanguard Group Inc. boosted its stake in shares of Semtech Corp. by 4.4% in the second quarter. Vanguard Group Inc. now owns 5,235,323 shares of the company’s stock worth $124,915,000 after buying an additional 221,743 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Semtech Corp. by 10.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,780,185 shares of the company’s stock worth $42,475,000 after buying an additional 169,956 shares during the period. Institutional investors and hedge funds own 95.43% of the company’s stock.
About Semtech Corp.
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
Receive News & Ratings for Semtech Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech Corp. and related companies with MarketBeat.com's FREE daily email newsletter.