Analysts Set Semtech Co. (NASDAQ:SMTC) Target Price at $48.90

Shares of Semtech Co. (NASDAQ:SMTC) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $48.90.

A number of research firms recently commented on SMTC. StockNews.com raised shares of Semtech from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Piper Sandler restated an “overweight” rating and set a $60.00 price target (up previously from $40.00) on shares of Semtech in a research report on Wednesday, May 29th. B. Riley raised their price target on shares of Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Robert W. Baird raised their price target on shares of Semtech from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Semtech in a research report on Monday, July 15th.

Semtech Stock Up 7.2 %

NASDAQ SMTC opened at $30.99 on Monday. The company has a current ratio of 2.40, a quick ratio of 1.74 and a debt-to-equity ratio of 4.11. The firm’s 50 day moving average price is $33.95 and its 200-day moving average price is $29.32. Semtech has a 52-week low of $13.13 and a 52-week high of $46.86.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17). Semtech had a negative net margin of 129.52% and a negative return on equity of 154.99%. The firm had revenue of $206.11 million for the quarter, compared to the consensus estimate of $200.16 million. On average, equities analysts forecast that Semtech will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Semtech

A number of institutional investors have recently bought and sold shares of SMTC. Fidelis Capital Partners LLC purchased a new stake in shares of Semtech in the 1st quarter valued at approximately $27,000. GAMMA Investing LLC raised its stake in shares of Semtech by 83.9% in the 1st quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 773 shares during the period. Versant Capital Management Inc raised its stake in shares of Semtech by 205.0% in the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 1,259 shares during the period. Cape Investment Advisory Inc. acquired a new position in shares of Semtech in the fourth quarter valued at approximately $63,000. Finally, CWM LLC grew its holdings in shares of Semtech by 134.6% in the second quarter. CWM LLC now owns 2,412 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 1,384 shares in the last quarter.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial 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.