UBS Group Issues Pessimistic Forecast for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its price target dropped by research analysts at UBS Group from $65.00 to $60.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price objective indicates a potential upside of 58.65% from the company’s previous close.

SMTC has been the subject of several other research reports. Stifel Nicolaus decreased their price target on Semtech from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Friday. Craig Hallum decreased their price objective on shares of Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a report on Friday. Northland Securities raised their target price on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. 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, November 25th. Finally, Robert W. Baird lowered their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.55.

Semtech Stock Performance

Shares of Semtech stock traded up $5.11 during midday trading on Friday, hitting $37.82. The company had a trading volume of 2,561,214 shares, compared to its average volume of 2,793,820. Semtech has a 52-week low of $21.56 and a 52-week high of $79.52. The stock has a market capitalization of $2.86 billion, a P/E ratio of -2.89, a P/E/G ratio of 2.12 and a beta of 1.69. The company has a 50 day moving average of $52.84 and a 200 day moving average of $51.25.

Semtech (NASDAQ:SMTC) last issued its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $249.40 million. During the same period last year, the firm posted ($0.06) earnings per share. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. Equities research analysts forecast that Semtech will post -0.02 EPS for the current year.

Insider Transactions at Semtech

In other news, CFO Mark Lin sold 6,114 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the sale, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at $232,127.94. This represents a 63.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total transaction of $186,481.80. Following the transaction, the senior vice president now owns 6,317 shares of the company’s stock, valued at $399,866.10. This trade represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,637 shares of company stock valued at $1,472,726 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Semtech

Several large investors have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its holdings in shares of Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares during the period. Hollencrest Capital Management bought a new stake in Semtech in the fourth quarter worth $31,000. Dunhill Financial LLC purchased a new position in Semtech during the fourth quarter worth $31,000. Smartleaf Asset Management LLC increased its position in Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 505 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Semtech in the fourth quarter valued at $52,000.

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.