Stifel Nicolaus Issues Pessimistic Forecast for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its target price cut by Stifel Nicolaus from $60.00 to $54.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the company. Craig Hallum lowered their target price on Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday. Roth Mkm lifted their target price on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Semtech in a research note on Friday. Finally, Northland Securities lifted their target price on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.55.

Semtech Trading Up 21.1 %

NASDAQ SMTC opened at $39.60 on Friday. The stock’s 50-day moving average price is $51.73 and its two-hundred day moving average price is $51.13. The company has a market cap of $3.00 billion, a PE ratio of -3.03, a PEG ratio of 2.12 and a beta of 1.69. Semtech has a 1 year low of $21.56 and a 1 year high of $79.52.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data 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 company had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. Semtech’s quarterly revenue was up 30.1% on a year-over-year basis. Research analysts forecast that Semtech will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Semtech news, SVP Imran Sherazi sold 1,338 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $100,350.00. Following the completion of the sale, the senior vice president now owns 14 shares of the company’s stock, valued at $1,050. This represents a 98.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value 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. The trade was a 63.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,637 shares of company stock valued at $1,472,726 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hollencrest Capital Management acquired a new position in shares of Semtech during the fourth quarter worth approximately $31,000. Dunhill Financial LLC acquired a new position in shares of Semtech during the fourth quarter worth approximately $31,000. Huntington National Bank lifted its holdings in shares of Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after buying an additional 302 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after buying an additional 505 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position 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.