Northland Securities Issues Positive Forecast for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its target price raised by research analysts at Northland Securities from $46.00 to $60.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ price target points to a potential upside of 12.28% from the stock’s current price.

Several other research analysts also recently issued reports on SMTC. B. Riley upped their price target on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Stifel Nicolaus upped their target price on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Susquehanna lifted their price target on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Roth Mkm upped their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Semtech in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.70.

Semtech Stock Up 5.0 %

Shares of SMTC stock opened at $53.44 on Tuesday. Semtech has a twelve month low of $15.63 and a twelve month high of $53.74. The business has a fifty day simple moving average of $45.83 and a 200 day simple moving average of $38.96. The company has a market cap of $4.02 billion, a P/E ratio of -3.94 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the company posted $0.02 EPS. As a group, equities research analysts anticipate that Semtech will post -0.07 earnings per share for the current fiscal year.

Institutional Trading of Semtech

A number of large investors have recently bought and sold shares of SMTC. Huntington National Bank boosted its position in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Semtech during the 2nd quarter worth approximately $44,000. Canada Pension Plan Investment Board bought a new stake in shares of Semtech in the 2nd quarter valued at $60,000. NBC Securities Inc. lifted its position in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 739 shares during the period. Finally, Quarry LP bought a new position in Semtech during the second quarter worth $63,000.

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.