Semtech (NASDAQ:SMTC) had its price objective cut by Oppenheimer from $60.00 to $52.00 in a report released on Thursday morning, The Fly reports. They currently have an outperform rating on the semiconductor company’s stock.

SMTC has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Semtech from a sell rating to a hold rating in a report on Friday, February 1st. B. Riley reduced their target price on shares of Semtech from $68.00 to $65.00 and set a buy rating on the stock in a report on Thursday, March 14th. ValuEngine upgraded shares of Semtech from a buy rating to a strong-buy rating in a report on Friday, February 22nd. BidaskClub upgraded shares of Semtech from a hold rating to a buy rating in a report on Wednesday, February 27th. Finally, Roth Capital lowered shares of Semtech from a buy rating to a neutral rating and set a $49.00 target price on the stock. in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $56.54.

NASDAQ:SMTC opened at $39.83 on Thursday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.25 and a current ratio of 3.74. Semtech has a 12-month low of $39.54 and a 12-month high of $60.55.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, May 29th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.16. The company had revenue of $131.40 million for the quarter, compared to analyst estimates of $130.40 million. Semtech had a net margin of 10.18% and a return on equity of 14.06%. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. Analysts forecast that Semtech will post 1.19 earnings per share for the current year.

In other news, EVP James Jungsup Kim sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $43.81, for a total transaction of $1,314,300.00. Following the completion of the transaction, the executive vice president now owns 81,854 shares of the company’s stock, valued at approximately $3,586,023.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Mark C. Costello sold 18,609 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $54.10, for a total transaction of $1,006,746.90. Following the transaction, the vice president now directly owns 25,142 shares of the company’s stock, valued at approximately $1,360,182.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,514 shares of company stock valued at $7,645,374. Corporate insiders own 1.96% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SMTC. Oregon Public Employees Retirement Fund acquired a new position in shares of Semtech during the 4th quarter valued at about $25,000. Norges Bank acquired a new position in shares of Semtech during the 4th quarter valued at about $40,233,000. JPMorgan Chase & Co. increased its stake 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 valued at $44,450,000 after acquiring an additional 733,351 shares during the last quarter. FMR LLC increased its stake 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 valued at $188,717,000 after acquiring an additional 573,087 shares during the last quarter. Finally, Fiera Capital Corp increased its position in 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 purchasing an additional 563,292 shares in the last quarter. 96.49% of the stock is owned by institutional investors.

Semtech Company Profile

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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