Semtech’s (SMTC) “Outperform” Rating Reaffirmed at Wells Fargo & Co

Wells Fargo & Co reiterated their outperform rating on shares of Semtech (NASDAQ:SMTC) in a research report report published on Thursday, BenzingaRatingsTable reports. The firm currently has a $55.00 target price on the semiconductor company’s stock, down from their previous target price of $60.00.

Other research analysts also recently issued research reports about the stock. Oppenheimer reissued a buy rating and issued a $52.00 target price on shares of Semtech in a research note on Wednesday, November 27th. Craig Hallum decreased their price target on shares of Semtech from $9.00 to $6.00 in a research note on Monday, September 23rd. Robert W. Baird set a $45.00 price target on shares of Semtech and gave the stock a buy rating in a report on Monday, August 26th. BidaskClub lowered shares of Semtech from a hold rating to a sell rating in a research report on Saturday, November 23rd. Finally, ValuEngine raised shares of Semtech from a buy rating to a strong-buy rating in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $47.64.

Semtech stock traded up $1.45 during mid-day trading on Thursday, hitting $47.41. 742,664 shares of the company were exchanged, compared to its average volume of 560,805. Semtech has a 12-month low of $39.54 and a 12-month high of $57.96. The company has a market capitalization of $3.06 billion, a P/E ratio of 35.65, a PEG ratio of 3.92 and a beta of 1.91. The business’s 50 day simple moving average is $50.48 and its two-hundred day simple moving average is $47.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.10 and a quick ratio of 3.42.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, December 4th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $141.00 million for the quarter, compared to the consensus estimate of $140.15 million. Semtech had a return on equity of 12.91% and a net margin of 7.34%. The business’s revenue was down 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share. Equities research analysts predict that Semtech will post 1.02 earnings per share for the current year.

In other news, VP Alisair Fulton sold 709 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $49.38, for a total transaction of $35,010.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Asaf Silberstein sold 6,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $55.00, for a total transaction of $330,000.00. Following the transaction, the executive vice president now owns 50,653 shares in the company, valued at $2,785,915. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,717 shares of company stock worth $1,262,791. 1.96% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in SMTC. Point72 Hong Kong Ltd increased its stake in Semtech by 28.1% during the second quarter. Point72 Hong Kong Ltd now owns 1,450 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 318 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Semtech in the 2nd quarter valued at about $86,000. Marshall Wace LLP purchased a new stake in shares of Semtech during the 2nd quarter worth about $203,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Semtech by 8.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,346 shares of the semiconductor company’s stock worth $211,000 after purchasing an additional 347 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Semtech by 969.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,314 shares of the semiconductor company’s stock worth $255,000 after purchasing an additional 4,817 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

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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