Semtech (SMTC) Receives New Coverage from Analysts at Roth Capital
Roth Capital started coverage on shares of Semtech (NASDAQ:SMTC) in a research report sent to investors on Friday morning. The brokerage issued a buy rating and a $39.00 target price on the semiconductor company’s stock.
A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada reaffirmed a hold rating and set a $39.00 price target on shares of Semtech in a research note on Tuesday, October 3rd. B. Riley reaffirmed a buy rating and set a $48.00 price target on shares of Semtech in a research note on Thursday, October 5th. Zacks Investment Research raised shares of Semtech from a sell rating to a hold rating in a research note on Tuesday, October 31st. BWS Financial initiated coverage on shares of Semtech in a research note on Monday, November 20th. They set a buy rating and a $49.00 price target on the stock. Finally, Oppenheimer reaffirmed a buy rating and set a $42.00 price target on shares of Semtech in a research note on Sunday, November 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $41.90.
Semtech (NASDAQ:SMTC) opened at $35.60 on Friday. Semtech has a 1-year low of $31.05 and a 1-year high of $41.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.80 and a quick ratio of 3.20. The company has a market cap of $2,350.00, a price-to-earnings ratio of 52.35, a PEG ratio of 5.91 and a beta of 1.41.
Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.50 by $0.04. Semtech had a net margin of 7.79% and a return on equity of 12.13%. The firm had revenue of $156.60 million for the quarter, compared to the consensus estimate of $155.69 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. research analysts expect that Semtech will post 1.21 EPS for the current fiscal year.
In other news, insider Mohan Maheswaran sold 2,500 shares of the stock in a transaction on Friday, October 13th. The shares were sold at an average price of $40.03, for a total value of $100,075.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP James Jungsup Kim sold 1,500 shares of the stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $34.32, for a total transaction of $51,480.00. Following the completion of the sale, the senior vice president now directly owns 24,600 shares in the company, valued at approximately $844,272. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,007 shares of company stock worth $2,226,517. 2.10% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in SMTC. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of 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 acquiring an additional 65 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Semtech in the third quarter valued at $133,000. Victory Capital Management Inc. raised its stake in shares of 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 acquiring an additional 717 shares during the period. Riverhead Capital Management LLC raised its stake in shares of 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 acquiring an additional 2,030 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Semtech in the third quarter valued at $204,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.
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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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