Stifel Nicolaus Trims Semtech (NASDAQ:SMTC) Target Price to $40.00

Semtech (NASDAQ:SMTCGet Rating) had its price target cut by Stifel Nicolaus from $45.00 to $40.00 in a report published on Tuesday, The Fly reports.

Other analysts also recently issued reports about the stock. Needham & Company LLC downgraded shares of Semtech to a hold rating in a report on Tuesday, August 9th. Susquehanna Bancshares cut their price target on shares of Semtech to $56.00 in a report on Monday, August 29th. Benchmark cut their price target on shares of Semtech to $65.00 in a report on Tuesday, September 6th. Cowen lowered shares of Semtech from an outperform rating to a market perform rating and cut their price target for the company from $65.00 to $43.00 in a report on Thursday, September 1st. Finally, Robert W. Baird cut their price target on shares of Semtech from $90.00 to $48.00 and set an outperform rating on the stock in a report on Thursday, September 1st. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Semtech currently has a consensus rating of Hold and a consensus price target of $58.83.

Semtech Stock Up 2.7 %

SMTC stock opened at $30.41 on Tuesday. Semtech has a 52 week low of $25.29 and a 52 week high of $92.15. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.91 and a beta of 1.64. The firm’s 50-day moving average is $28.69 and its two-hundred day moving average is $45.04. The company has a current ratio of 4.12, a quick ratio of 3.35 and a debt-to-equity ratio of 0.22.

Semtech (NASDAQ:SMTCGet Rating) last released its earnings results on Wednesday, August 31st. The semiconductor company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Semtech had a net margin of 19.94% and a return on equity of 21.18%. The business had revenue of $209.25 million for the quarter, compared to the consensus estimate of $208.29 million. During the same period in the previous year, the firm earned $0.51 EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, analysts forecast that Semtech will post 2.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in Semtech by 32.5% during the second quarter. Assenagon Asset Management S.A. now owns 740,378 shares of the semiconductor company’s stock valued at $40,699,000 after purchasing an additional 181,696 shares in the last quarter. Martingale Asset Management L P grew its position in Semtech by 28.4% during the first quarter. Martingale Asset Management L P now owns 11,301 shares of the semiconductor company’s stock valued at $784,000 after purchasing an additional 2,500 shares in the last quarter. Yousif Capital Management LLC grew its position in Semtech by 4.5% in the second quarter. Yousif Capital Management LLC now owns 35,509 shares of the semiconductor company’s stock worth $1,952,000 after acquiring an additional 1,515 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Semtech in the first quarter worth approximately $528,000. Finally, Centaurus Financial Inc. grew its position in Semtech by 13.7% in the second quarter. Centaurus Financial Inc. now owns 3,811 shares of the semiconductor company’s stock worth $209,000 after acquiring an additional 460 shares in the last quarter. 97.53% of the stock is owned by hedge funds and other institutional investors.

Semtech Company Profile

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Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.

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