Semtech (NASDAQ:SMTC) Price Target Raised to $65.00

Semtech (NASDAQ:SMTC) had its price target boosted by Stifel Nicolaus from $58.00 to $65.00 in a research report released on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

SMTC has been the topic of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target (up previously from $50.00) on shares of Semtech in a research note on Tuesday. Craig Hallum lifted their target price on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday. Northland Securities raised their price objective on shares of Semtech from $46.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday. Roth Mkm boosted their target price on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Finally, Benchmark reaffirmed a “buy” rating and issued a $56.00 target price on shares of Semtech in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Semtech has an average rating of “Moderate Buy” and a consensus target price of $67.70.

Semtech Price Performance

SMTC stock opened at $64.20 on Tuesday. The firm has a market cap of $4.83 billion, a PE ratio of -4.74 and a beta of 1.54. Semtech has a 12 month low of $15.63 and a 12 month high of $66.64. The firm has a 50 day simple moving average of $46.64 and a 200 day simple moving average of $39.30.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 EPS. As a group, sell-side analysts expect that Semtech will post -0.07 earnings per share for the current year.

Institutional Trading of Semtech

A number of institutional investors have recently added to or reduced their stakes in SMTC. Geode Capital Management LLC raised its holdings in shares of Semtech by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock valued at $73,883,000 after purchasing an additional 119,572 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in Semtech by 4.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after buying an additional 114,999 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Semtech during the third quarter worth $763,000. Wellington Management Group LLP bought a new position in Semtech during the third quarter valued at about $10,556,000. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of Semtech in the third quarter worth about $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.