Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Susquehanna Analyst Says

Semtech (NASDAQ:SMTC) had its price objective hoisted by stock analysts at Susquehanna from $55.00 to $60.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price objective indicates a potential upside of 17.90% from the company’s previous close.

A number of other brokerages also recently commented on SMTC. Benchmark restated a “buy” rating and set a $56.00 price objective on shares of Semtech in a research note on Monday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Semtech in a report on Wednesday, August 28th. B. Riley boosted their target price on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus lifted their price target on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Semtech has an average rating of “Moderate Buy” and an average target price of $53.10.

Semtech Stock Performance

Shares of NASDAQ:SMTC opened at $50.89 on Thursday. Semtech has a 1-year low of $15.53 and a 1-year high of $53.22. The company’s fifty day moving average is $45.56 and its two-hundred day moving average is $38.88. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -3.76 and a beta of 1.54.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Semtech by 8.0% in the third quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after acquiring an additional 119,572 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of Semtech by 4.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after purchasing an additional 114,999 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Semtech in the 3rd quarter worth approximately $763,000. Wellington Management Group LLP acquired a new stake in Semtech during the third quarter valued at approximately $10,556,000. Finally, Whale Rock Capital Management LLC bought a new stake in Semtech during the third quarter worth approximately $32,126,000.

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.