Semtech (NASDAQ:SMTC) Stock Rating Reaffirmed by Benchmark

by · The Cerbat Gem

Semtech (NASDAQ:SMTC – Get Free Report)‘s stock had its “buy” rating restated by stock analysts at Benchmark in a note issued to investors on Monday, Benzinga reports. They currently have a $56.00 price objective on the semiconductor company’s stock. Benchmark’s target price would suggest a potential upside of 31.98% from the company’s current price.

A number of other brokerages have also commented on SMTC. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus lifted their target price on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. B. Riley increased their price target on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Finally, Roth Mkm reiterated a “buy” rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

View Our Latest Research Report on Semtech

Semtech Trading Down 2.1 %

Shares of SMTC stock opened at $42.43 on Monday. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -2.51 and a beta of 1.54. The stock has a 50-day moving average of $39.09 and a 200-day moving average of $35.81. Semtech has a 1-year low of $13.13 and a 1-year high of $49.53.

Semtech (NASDAQ:SMTC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) EPS. Sell-side analysts forecast that Semtech will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Semtech

A number of large investors have recently made changes to their positions in SMTC. Vanguard Group Inc. lifted its holdings in Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after purchasing an additional 131,133 shares in the last quarter. Millennium Management LLC increased its position in shares of Semtech by 26.6% during the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after buying an additional 765,877 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Semtech by 343.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock worth $74,550,000 after buying an additional 1,932,116 shares in the last quarter. Kodai Capital Management LP boosted its position in shares of Semtech by 2.7% in the first quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after acquiring an additional 54,267 shares during the period. Finally, Contour Asset Management LLC grew its stake in Semtech by 2.6% during the fourth quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock valued at $32,072,000 after acquiring an additional 36,838 shares in the last quarter.

About Semtech

(Get Free Report)

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.

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