BidaskClub downgraded shares of Semtech (NASDAQ:SMTC) from a hold rating to a sell rating in a research note issued to investors on Thursday.

A number of other research analysts have also issued reports on SMTC. B. Riley reiterated a buy rating and issued a $48.00 target price on shares of Semtech in a report on Thursday, August 24th. Drexel Hamilton reaffirmed a buy rating and set a $45.00 price target on shares of Semtech in a report on Thursday, November 30th. Oppenheimer reaffirmed a buy rating and set a $42.00 price target on shares of Semtech in a report on Thursday, November 30th. BWS Financial set a $49.00 price target on Semtech and gave the stock a buy rating in a report on Thursday, November 30th. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $34.00 price target on shares of Semtech in a report on Thursday, November 30th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Semtech presently has an average rating of Buy and an average price target of $43.29.

Semtech (NASDAQ:SMTC) opened at $34.00 on Thursday. The stock has a market capitalization of $2,256.19, a price-to-earnings ratio of 29.31, a P/E/G ratio of 5.62 and a beta of 1.41. Semtech has a fifty-two week low of $30.60 and a fifty-two week high of $41.95. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.32.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.04. The firm had revenue of $156.60 million during the quarter, compared to analyst estimates of $155.69 million. Semtech had a return on equity of 12.13% and a net margin of 7.79%. Semtech’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share. research analysts anticipate that Semtech will post 1.21 EPS for the current year.

In other news, CFO Emeka Chukwu sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $40.67, for a total value of $81,340.00. Following the completion of the sale, the chief financial officer now directly owns 73,776 shares of the company’s stock, valued at approximately $3,000,469.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Asaf Silberstein sold 2,500 shares of the business’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $37.78, for a total value of $94,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,723 shares of company stock valued at $2,060,117 over the last ninety days. 2.20% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Semtech by 2.0% in the 2nd 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 during the last quarter. Virginia Retirement Systems ET AL lifted its holdings in shares of Semtech by 1.0% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 100 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Semtech by 2.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,370 shares of the semiconductor company’s stock valued at $228,000 after purchasing an additional 150 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Semtech by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock valued at $1,781,000 after purchasing an additional 186 shares during the last quarter. Finally, CS Mckee LP lifted its holdings in shares of Semtech by 0.3% in the 2nd quarter. CS Mckee LP now owns 58,500 shares of the semiconductor company’s stock valued at $2,091,000 after purchasing an additional 200 shares during the last quarter. 94.00% of the stock is owned by institutional investors and hedge funds.

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Semtech 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 (NASDAQ:SMTC)

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