Semtech Co. (NASDAQ:SMTC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Semtech Co. (NASDAQ:SMTC) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $48.90.

SMTC has been the topic of several research analyst reports. Stifel Nicolaus raised their target price on shares of Semtech from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Piper Sandler reissued an “overweight” rating and set a $60.00 price objective (up from $40.00) on shares of Semtech in a research note on Wednesday, May 29th. B. Riley increased their target price on Semtech from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. StockNews.com raised Semtech from a “sell” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, Roth Mkm upped their price target on shares of Semtech from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th.

Semtech Stock Up 0.9 %

Shares of SMTC stock opened at $36.34 on Friday. Semtech has a fifty-two week low of $13.13 and a fifty-two week high of $46.86. The business has a fifty day simple moving average of $31.84 and a 200-day simple moving average of $30.69. The stock has a market cap of $2.35 billion, a P/E ratio of -2.15 and a beta of 1.55.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, June 5th. The semiconductor company reported ($0.17) EPS for the quarter, hitting 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 business had revenue of $206.11 million during the quarter, compared to the consensus estimate of $200.16 million. On average, sell-side analysts anticipate that Semtech will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SMTC. Arizona State Retirement System lifted its position in shares of Semtech by 2.3% during the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock worth $540,000 after purchasing an additional 407 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Semtech by 6.9% during the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 461 shares in the last quarter. Creative Planning lifted its holdings in Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after buying an additional 588 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Semtech by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock worth $971,000 after acquiring an additional 700 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Semtech by 4.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,482 shares of the semiconductor company’s stock valued at $463,000 after acquiring an additional 710 shares during the last quarter.

About Semtech

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.