Semtech Corporation (SMTC) Rating Reiterated by Drexel Hamilton
Semtech Corporation (NASDAQ:SMTC)‘s stock had its “buy” rating reissued by equities researchers at Drexel Hamilton in a research note issued on Thursday. They currently have a $45.00 price target on the semiconductor company’s stock. Drexel Hamilton’s price target would suggest a potential upside of 21.46% from the company’s previous close.
SMTC has been the topic of several other reports. B. Riley restated a “buy” rating and issued a $44.00 price objective on shares of Semtech Corporation in a research report on Tuesday, May 16th. Robert W. Baird restated an “outperform” rating and issued a $45.00 price objective on shares of Semtech Corporation in a research report on Thursday, June 1st. Royal Bank Of Canada restated a “hold” rating and issued a $39.00 price objective on shares of Semtech Corporation in a research report on Thursday, July 6th. Zacks Investment Research downgraded Semtech Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Finally, BidaskClub downgraded Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $43.50.
Shares of Semtech Corporation (NASDAQ:SMTC) opened at 37.05 on Thursday. Semtech Corporation has a 12-month low of $22.81 and a 12-month high of $41.15. The stock has a market cap of $2.44 billion, a PE ratio of 41.26 and a beta of 1.45. The firm has a 50 day moving average price of $38.28 and a 200 day moving average price of $35.73.
Semtech Corporation (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The business had revenue of $153.10 million for the quarter, compared to the consensus estimate of $154.91 million. During the same period in the previous year, the business earned $0.35 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. On average, equities analysts expect that Semtech Corporation will post $1.89 EPS for the current year.
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In related news, EVP Charles B. Ammann sold 2,250 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $37.56, for a total value of $84,510.00. Following the sale, the executive vice president now directly owns 14,905 shares in the company, valued at $559,831.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP James Jungsup Kim sold 1,500 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $37.57, for a total value of $56,355.00. Following the completion of the sale, the senior vice president now owns 29,100 shares in the company, valued at $1,093,287. The disclosure for this sale can be found here. Insiders sold 93,150 shares of company stock worth $3,396,059 over the last quarter. 2.10% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of SMTC. Comerica Bank increased its stake in shares of Semtech Corporation by 4.2% in the first quarter. Comerica Bank now owns 73,055 shares of the semiconductor company’s stock worth $2,520,000 after buying an additional 2,939 shares during the period. BNP Paribas Arbitrage SA boosted its position in Semtech Corporation by 12.2% in the first quarter. BNP Paribas Arbitrage SA now owns 13,580 shares of the semiconductor company’s stock worth $459,000 after buying an additional 1,474 shares in the last quarter. US Bancorp DE boosted its position in Semtech Corporation by 13.4% in the first quarter. US Bancorp DE now owns 10,746 shares of the semiconductor company’s stock worth $364,000 after buying an additional 1,270 shares in the last quarter. Capital Fund Management S.A. acquired a new position in Semtech Corporation during the first quarter worth approximately $1,136,000. Finally, Advisors Asset Management Inc. boosted its position in Semtech Corporation by 34.1% in the first quarter. Advisors Asset Management Inc. now owns 3,002 shares of the semiconductor company’s stock worth $101,000 after buying an additional 764 shares in the last quarter. Institutional investors own 95.09% of the company’s stock.
About Semtech Corporation
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.
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