Semtech Corporation (NASDAQ:SMTC)‘s stock had its “hold” rating reaffirmed by investment analysts at Royal Bank Of Canada in a research note issued on Tuesday. They presently have a $39.00 price objective on the semiconductor company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 3.04% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. B. Riley reiterated a “buy” rating and issued a $48.00 price objective on shares of Semtech Corporation in a research report on Tuesday, June 6th. Drexel Hamilton reiterated a “buy” rating and issued a $45.00 price objective on shares of Semtech Corporation in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $42.00 price objective on shares of Semtech Corporation in a research report on Sunday, August 27th. BidaskClub downgraded Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $45.00 price objective on shares of Semtech Corporation in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $43.50.

Shares of Semtech Corporation (SMTC) traded down 0.066% during trading on Tuesday, hitting $37.825. The stock had a trading volume of 48,824 shares. The firm’s 50 day moving average is $36.62 and its 200 day moving average is $36.05. Semtech Corporation has a 1-year low of $22.81 and a 1-year high of $41.15. The company has a market cap of $2.50 billion, a PE ratio of 39.984 and a beta of 1.45.

Semtech Corporation (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $153.10 million for the quarter, compared to the consensus estimate of $154.91 million. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts anticipate that Semtech Corporation will post $1.89 EPS for the current fiscal year.

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In other Semtech Corporation news, VP Mark C. Costello sold 3,750 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $37.48, for a total transaction of $140,550.00. Following the sale, the vice president now owns 3,750 shares in the company, valued at $140,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rockell N. Hankin sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $36.65, for a total value of $183,250.00. Following the sale, the director now owns 154,940 shares in the company, valued at approximately $5,678,551. The disclosure for this sale can be found here. Insiders have sold 50,794 shares of company stock worth $1,896,957 in the last 90 days. Company insiders own 2.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Semtech Corporation by 2.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 65 shares in the last quarter. Louisiana State Employees Retirement System grew 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 valued at $958,000 after buying an additional 100 shares during the last quarter. Virginia Retirement Systems ET AL grew 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 valued at $350,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC grew 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 valued at $228,000 after buying an additional 150 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew 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 valued at $1,781,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 94.42% 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.

Analyst Recommendations for Semtech Corporation (NASDAQ:SMTC)

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