Semtech Co. (NASDAQ:SMTC) has earned an average rating of “Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $56.90.

A number of research analysts have recently weighed in on SMTC shares. B. Riley lifted their price objective on Semtech from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. ValuEngine raised Semtech from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 22nd. Zacks Investment Research raised Semtech from a “sell” rating to a “hold” rating in a research report on Friday, February 1st. BidaskClub cut Semtech from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Loop Capital raised Semtech to a “buy” rating in a research report on Monday, March 18th.

Shares of Semtech stock traded up $0.74 during trading hours on Friday, reaching $48.77. 12,767 shares of the stock traded hands, compared to its average volume of 333,244. The company has a market cap of $3.15 billion, a P/E ratio of 36.72, a P/E/G ratio of 3.09 and a beta of 1.65. Semtech has a one year low of $41.28 and a one year high of $60.55. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, March 13th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. Semtech had a return on equity of 13.94% and a net margin of 10.05%. The business had revenue of $160.00 million during the quarter, compared to the consensus estimate of $158.48 million. During the same period in the previous year, the company posted $0.42 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Research analysts anticipate that Semtech will post 1.22 EPS for the current fiscal year.

In related news, CFO Emeka Chukwu sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $53.86, for a total value of $59,246.00. Following the transaction, the chief financial officer now directly owns 127,886 shares of the company’s stock, valued at approximately $6,887,939.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James Jungsup Kim sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $57.37, for a total value of $143,425.00. Following the completion of the transaction, the senior vice president now directly owns 41,375 shares in the company, valued at $2,373,683.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,614 shares of company stock worth $6,667,466. 1.96% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of SMTC. Oregon Public Employees Retirement Fund purchased a new stake in shares of Semtech during the 4th quarter worth approximately $25,000. Norges Bank purchased a new stake in shares of Semtech during the 4th quarter worth approximately $40,233,000. JPMorgan Chase & Co. raised its holdings in shares of Semtech by 524.7% during the 1st quarter. JPMorgan Chase & Co. now owns 873,124 shares of the semiconductor company’s stock worth $44,450,000 after acquiring an additional 733,351 shares in the last quarter. FMR LLC raised its holdings in shares of Semtech by 16.2% during the 4th quarter. FMR LLC now owns 4,114,152 shares of the semiconductor company’s stock worth $188,717,000 after acquiring an additional 573,087 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of Semtech by 518.6% during the 1st quarter. Fiera Capital Corp now owns 671,903 shares of the semiconductor company’s stock worth $34,206,000 after acquiring an additional 563,292 shares in the last quarter. 97.75% 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, and communications 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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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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