Roth Mkm Increases Semtech (NASDAQ:SMTC) Price Target to $60.00

Semtech (NASDAQ:SMTC) had its price target hoisted by equities research analysts at Roth Mkm from $50.00 to $60.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Mkm’s price objective indicates a potential upside of 13.53% from the stock’s current price.

SMTC has been the topic of a number of other reports. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. B. Riley raised their price target on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Benchmark restated a “buy” rating and issued a $56.00 price target on shares of Semtech in a research note on Monday, October 7th. Finally, Stifel Nicolaus increased their price objective on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.10.

Semtech Trading Up 3.9 %

Shares of Semtech stock traded up $1.96 during trading hours on Monday, reaching $52.85. The stock had a trading volume of 1,075,585 shares, compared to its average volume of 1,796,913. Semtech has a 1 year low of $15.63 and a 1 year high of $53.53. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -3.90 and a beta of 1.54. The firm has a 50 day simple moving average of $45.56 and a two-hundred day simple moving average of $38.86.

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

Institutional Trading of Semtech

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Semtech by 1.6% during the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after acquiring an additional 131,133 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Semtech in the second quarter worth $13,239,000. Harbor Capital Advisors Inc. grew its holdings in shares of Semtech by 135.9% during the third quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock valued at $1,943,000 after buying an additional 24,517 shares in the last quarter. SG Capital Management LLC acquired a new position in Semtech during the first quarter valued at $7,084,000. Finally, Fred Alger Management LLC purchased a new stake in Semtech in the 2nd quarter worth about $14,307,000.

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.