BidaskClub upgraded shares of Semtech (NASDAQ:SMTC) from a sell rating to a hold rating in a report released on Friday morning.

Several other research analysts also recently issued reports on the company. Needham & Company LLC downgraded Semtech from a buy rating to a hold rating and set a $42.00 price objective on the stock. in a report on Tuesday. Oppenheimer upped their price objective on Semtech from $58.00 to $65.00 and gave the stock an outperform rating in a report on Thursday, August 30th. Stifel Nicolaus upped their price objective on Semtech from $60.00 to $64.00 and gave the stock a buy rating in a report on Thursday, August 30th. Royal Bank of Canada increased their price target on Semtech to $55.00 and gave the company an outperform rating in a research note on Monday, August 27th. Finally, Piper Jaffray Companies reissued an overweight rating and issued a $57.00 price target on shares of Semtech in a research note on Monday, August 27th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Semtech currently has a consensus rating of Buy and an average price target of $57.70.

NASDAQ:SMTC traded down $0.95 during trading hours on Friday, hitting $56.75. 439,271 shares of the stock were exchanged, compared to its average volume of 659,964. Semtech has a twelve month low of $31.30 and a twelve month high of $60.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.51 and a current ratio of 4.13. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 40.54, a P/E/G ratio of 7.40 and a beta of 1.50.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 29th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. Semtech had a return on equity of 12.66% and a net margin of 8.48%. The firm had revenue of $163.20 million for the quarter, compared to the consensus estimate of $161.21 million. During the same quarter in the prior year, the business earned $0.48 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. equities analysts predict that Semtech will post 1.56 EPS for the current fiscal year.

In related news, VP Mark C. Costello sold 1,063 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $58.27, for a total transaction of $61,941.01. Following the sale, the vice president now owns 6,813 shares of the company’s stock, valued at approximately $396,993.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gary Beauchamp sold 24,029 shares of the firm’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $46.87, for a total value of $1,126,239.23. Following the sale, the executive vice president now directly owns 24,029 shares in the company, valued at approximately $1,126,239.23. The disclosure for this sale can be found here. Insiders have sold a total of 108,172 shares of company stock worth $5,506,539 in the last ninety days. 2.30% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can acquired a new stake in Semtech during the 2nd quarter worth $124,000. NumerixS Investment Technologies Inc acquired a new stake in Semtech during the 2nd quarter worth $160,000. CIBC Asset Management Inc acquired a new stake in Semtech during the 2nd quarter worth $215,000. Everence Capital Management Inc. acquired a new stake in Semtech during the 2nd quarter worth $222,000. Finally, GSA Capital Partners LLP acquired a new stake in Semtech during the 1st quarter worth $201,000. 96.61% of the stock is currently owned by institutional investors and hedge funds.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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