Semtech (NASDAQ:SMTC)‘s stock had its “buy” rating reissued by stock analysts at Drexel Hamilton in a report released on Thursday. They presently have a $45.00 target price on the semiconductor company’s stock. Drexel Hamilton’s price target would suggest a potential upside of 32.16% from the company’s previous close.

Several other analysts have also recently commented on the stock. Oppenheimer restated a “buy” rating and set a $42.00 price target on shares of Semtech in a report on Sunday, August 27th. Zacks Investment Research cut shares of Semtech from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. B. Riley restated a “buy” rating and set a $48.00 price target on shares of Semtech in a report on Thursday, October 5th. BWS Financial started coverage on shares of Semtech in a report on Monday, November 20th. They set a “buy” rating and a $49.00 price target for the company. Finally, Royal Bank Of Canada restated a “hold” rating and set a $39.00 price target on shares of Semtech in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $43.29.

Shares of Semtech (NASDAQ:SMTC) opened at $34.05 on Thursday. The company has a current ratio of 3.80, a quick ratio of 2.83 and a debt-to-equity ratio of 0.32. The company has a market cap of $2,259.50, a P/E ratio of 29.35, a P/E/G ratio of 5.54 and a beta of 1.42. Semtech has a fifty-two week low of $29.00 and a fifty-two week high of $41.95.

Semtech (NASDAQ:SMTC) last posted its quarterly 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. The business had revenue of $156.60 million during the quarter, compared to analysts’ expectations of $155.69 million. Semtech had a net margin of 7.79% and a return on equity of 12.13%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. analysts anticipate that Semtech will post 1.23 EPS for the current year.

In related news, CFO Emeka Chukwu sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $37.72, for a total transaction of $75,440.00. Following the transaction, the chief financial officer now owns 77,776 shares of the company’s stock, valued at $2,933,710.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Rockell N. Hankin sold 5,000 shares of Semtech stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $36.65, for a total transaction of $183,250.00. Following the completion of the transaction, the director now directly owns 154,940 shares in the company, valued at approximately $5,678,551. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,620 shares of company stock worth $2,420,461. Insiders own 2.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 purchasing an additional 65 shares during the period. Virginia Retirement Systems ET AL raised its position in shares of Semtech by 1.0% in the second 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 period. Nisa Investment Advisors LLC raised its position in shares of Semtech by 2.4% in the second 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 period. The Manufacturers Life Insurance Company raised its position in shares of Semtech by 0.4% in 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 purchasing an additional 186 shares during the period. Finally, CS Mckee LP raised its position in shares of Semtech by 0.3% in the second 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 period. 94.23% of the stock is currently owned by institutional investors.

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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)

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