Semtech’s (SMTC) Buy Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Semtech (NASDAQ:SMTC) in a research report report published on Monday, Marketbeat.com reports. They currently have a $56.00 price target on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on the stock. Susquehanna upped their target price on shares of Semtech from $45.00 to $55.00 and gave the stock a positive rating in a research report on Thursday, June 6th. Summit Insights downgraded Semtech from a buy rating to a hold rating in a report on Wednesday, August 28th. Needham & Company LLC reissued a buy rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. B. Riley upped their price target on Semtech from $58.00 to $61.00 and gave the company a buy rating in a research note on Wednesday, August 28th. Finally, Northland Securities boosted their price objective on Semtech from $36.50 to $46.00 and gave the stock an outperform rating in a report on Thursday, June 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $52.60.

Semtech Price Performance

NASDAQ SMTC opened at $40.70 on Monday. The stock’s 50 day simple moving average is $35.05 and its 200 day simple moving average is $32.86. Semtech has a one year low of $13.13 and a one year high of $46.86. The firm has a market cap of $3.06 billion, a PE ratio of -2.41 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $215.40 million during the quarter, compared to analyst estimates of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company posted ($0.06) earnings per share. As a group, equities analysts expect that Semtech will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Kodai Capital Management LP acquired a new stake in shares of Semtech in the 4th quarter valued at about $43,504,000. Disciplined Growth Investors Inc. MN raised its holdings in shares of Semtech by 343.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after purchasing an additional 1,932,116 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Semtech in the second quarter worth $43,395,000. Millennium Management LLC boosted its holdings in Semtech by 26.6% during the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after purchasing an additional 765,877 shares during the last quarter. Finally, Clearline Capital LP grew its position in Semtech by 143.1% in the second quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock valued at $26,863,000 after purchasing an additional 529,194 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.