Semtech Co. (NASDAQ:SMTC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Semtech Co. (NASDAQ:SMTC) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $48.90.

A number of equities research analysts have issued reports on SMTC shares. StockNews.com upgraded shares of Semtech from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Northland Securities raised their price target on shares of Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Roth Mkm raised their price target on shares of Semtech from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Craig Hallum raised their price target on shares of Semtech from $36.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Robert W. Baird raised their price target on shares of Semtech from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, April 1st.

Semtech Stock Up 7.2 %

SMTC stock opened at $30.99 on Monday. Semtech has a 12-month low of $13.13 and a 12-month high of $46.86. The company has a quick ratio of 1.74, a current ratio of 2.40 and a debt-to-equity ratio of 4.11. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -1.83 and a beta of 1.55. The company has a 50 day moving average of $33.95 and a two-hundred day moving average of $29.20.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Semtech by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after buying an additional 131,133 shares during the last quarter. Kodai Capital Management LP grew its position in Semtech by 2.7% in the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock worth $56,075,000 after purchasing an additional 54,267 shares during the last quarter. Contour Asset Management LLC grew its position in Semtech by 2.6% in the 4th quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock worth $32,072,000 after purchasing an additional 36,838 shares during the last quarter. Victory Capital Management Inc. grew its position in Semtech by 81.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,369,043 shares of the semiconductor company’s stock worth $29,996,000 after purchasing an additional 613,274 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Semtech by 19.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,217,670 shares of the semiconductor company’s stock worth $26,679,000 after purchasing an additional 197,595 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.