Shares of Semtech Corporation (NASDAQ:SMTC) have received an average rating of “Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $43.50.

Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Semtech Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. B. Riley restated a “buy” rating and set a $48.00 target price on shares of Semtech Corporation in a research report on Sunday, September 3rd. Drexel Hamilton restated a “buy” rating and set a $45.00 target price on shares of Semtech Corporation in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $42.00 target price on shares of Semtech Corporation in a research report on Sunday, August 27th. Finally, BidaskClub downgraded shares of Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th.

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In other news, VP Mark C. Costello sold 897 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $36.27, for a total transaction of $32,534.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohan Maheswaran sold 2,500 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $35.64, for a total transaction of $89,100.00. Following the sale, the insider now directly owns 220,372 shares of the company’s stock, valued at approximately $7,854,058.08. The disclosure for this sale can be found here. Insiders have sold 51,294 shares of company stock valued at $1,898,842 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Semtech Corporation by 2.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 65 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Semtech Corporation by 0.4% during the second quarter. Louisiana State Employees Retirement System now owns 26,800 shares of the semiconductor company’s stock worth $958,000 after purchasing an additional 100 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in shares of Semtech Corporation by 1.0% during the second quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the semiconductor company’s stock worth $350,000 after purchasing an additional 100 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Semtech Corporation by 2.4% during the second quarter. Nisa Investment Advisors LLC now owns 6,370 shares of the semiconductor company’s stock worth $228,000 after purchasing an additional 150 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Semtech Corporation by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock worth $1,781,000 after purchasing an additional 186 shares in the last quarter. 94.42% of the stock is owned by institutional investors and hedge funds.

Semtech Corporation (NASDAQ SMTC) traded down 1.95% during trading on Friday, hitting $35.20. The stock had a trading volume of 572,792 shares. The firm has a 50 day moving average of $37.33 and a 200-day moving average of $35.85. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 37.21 and a beta of 1.45. Semtech Corporation has a 12 month low of $22.81 and a 12 month high of $41.15.

Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Semtech Corporation had a net margin of 11.00% and a return on equity of 11.77%. The business had revenue of $153.10 million during the quarter, compared to the consensus estimate of $154.91 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities analysts predict that Semtech Corporation will post $1.89 earnings per share for the current year.

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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