Oppenheimer Holdings, Inc. reissued their buy rating on shares of Semtech Corporation (NASDAQ:SMTC) in a research report report published on Sunday morning. The brokerage currently has a $42.00 target price on the semiconductor company’s stock.

A number of other analysts have also recently weighed in on the company. BWS Financial assumed coverage on Semtech Corporation in a research report on Monday. They set a buy rating and a $49.00 price objective for the company. Zacks Investment Research raised Semtech Corporation from a sell rating to a hold rating in a research report on Tuesday, October 31st. B. Riley reaffirmed a buy rating and set a $48.00 price objective on shares of Semtech Corporation in a research report on Thursday, October 5th. Royal Bank Of Canada reaffirmed a hold rating and set a $39.00 price objective on shares of Semtech Corporation in a research report on Tuesday, October 3rd. Finally, Drexel Hamilton reaffirmed a buy rating and set a $45.00 price objective on shares of Semtech Corporation in a research report on Thursday, August 31st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Semtech Corporation currently has a consensus rating of Buy and an average target price of $44.29.

Shares of Semtech Corporation (NASDAQ:SMTC) opened at $40.50 on Friday. The stock has a market capitalization of $2,650.00, a PE ratio of 35.14, a P/E/G ratio of 6.28 and a beta of 1.48. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.42 and a quick ratio of 2.83. Semtech Corporation has a 1 year low of $27.55 and a 1 year high of $41.95.

Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The company had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $154.91 million. During the same period last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. research analysts anticipate that Semtech Corporation will post 1.23 earnings per share for the current year.

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In other news, Director Rockell N. Hankin sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $36.65, for a total transaction of $183,250.00. Following the completion of the transaction, the director now directly owns 154,940 shares of the company’s stock, valued at approximately $5,678,551. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mohan Maheswaran sold 2,500 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $35.64, for a total value of $89,100.00. Following the transaction, the insider now directly owns 220,372 shares of the company’s stock, valued at $7,854,058.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,370 shares of company stock valued at $2,636,446. Company insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Semtech Corporation by 2.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 65 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Semtech Corporation by 0.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,800 shares of the semiconductor company’s stock valued at $958,000 after purchasing an additional 100 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in Semtech Corporation by 1.0% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 100 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Semtech Corporation by 2.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,370 shares of the semiconductor company’s stock valued at $228,000 after purchasing an additional 150 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Semtech Corporation by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock valued at $1,781,000 after purchasing an additional 186 shares in the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Semtech Corporation Company Profile

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.

Analyst Recommendations for Semtech Corporation (NASDAQ:SMTC)

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