Piper Jaffray Companies assumed coverage on shares of Semtech (NASDAQ:SMTC) in a research report report published on Monday morning. The brokerage issued a neutral rating on the semiconductor company’s stock.

Several other research analysts have also commented on SMTC. B. Riley reissued a buy rating and set a $48.00 price objective on shares of Semtech in a report on Thursday, August 24th. Oppenheimer reissued a buy rating and set a $42.00 price objective on shares of Semtech in a report on Sunday, August 27th. Drexel Hamilton reissued a buy rating and set a $45.00 price objective on shares of Semtech in a report on Thursday, August 31st. Zacks Investment Research lowered Semtech from a hold rating to a sell rating in a report on Wednesday, September 6th. Finally, Royal Bank of Canada reissued a hold rating and set a $39.00 price objective on shares of Semtech in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $43.13.

Semtech (NASDAQ:SMTC) opened at $35.25 on Monday. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2,282.73, a PE ratio of 29.66, a price-to-earnings-growth ratio of 5.69 and a beta of 1.41. Semtech has a twelve month low of $31.00 and a twelve month high of $41.95.

Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.04. The business 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%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. equities research analysts expect that Semtech will post 1.21 earnings per share for the current fiscal year.

In related news, CEO Mohan Maheswaran sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $34.44, for a total value of $86,100.00. Following the completion of the sale, the chief executive officer now owns 212,872 shares in the company, valued at approximately $7,331,311.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Marc Pegulu sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $38.21, for a total value of $38,210.00. The disclosure for this sale can be found here. Insiders sold a total of 57,723 shares of company stock valued at $2,229,917 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in SMTC. Strs Ohio lifted its position in Semtech by 22.2% in the second quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Semtech by 2.0% in 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 during the last quarter. Quantbot Technologies LP bought a new stake in Semtech in the third quarter valued at approximately $133,000. Victory Capital Management Inc. lifted its position in Semtech by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,773 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 717 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its position in Semtech by 65.5% in the second quarter. Riverhead Capital Management LLC now owns 5,130 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 2,030 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was published by Watch List News and is the property of of Watch List News. If you are reading this article on another website, it was illegally stolen and republished in violation of international copyright and trademark laws. The legal version of this article can be read at https://www.watchlistnews.com/semtech-smtc-receives-new-coverage-from-analysts-at-piper-jaffray-companies/1772749.html.

About Semtech

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)

Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.