Semtech (NASDAQ:SMTC – Get Free Report) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of $(0.04)-$0.04 for the period, compared to the consensus EPS estimate of $0.02. The company issued revenue guidance of $195-205 million, compared to the consensus revenue estimate of $195.28 million.
Analysts Set New Price Targets
Several analysts have recently commented on SMTC shares. Roth Mkm reduced their price target on Semtech from $46.00 to $42.00 and set a buy rating for the company in a report on Thursday, December 7th. Needham & Company LLC reduced their price target on Semtech from $35.00 to $26.00 and set a buy rating for the company in a report on Thursday, December 7th. Stifel Nicolaus raised their price target on Semtech from $22.00 to $26.00 and gave the company a buy rating in a report on Tuesday, January 2nd. Susquehanna raised their price target on Semtech from $25.00 to $30.00 and gave the company a positive rating in a report on Thursday, March 14th. Finally, Robert W. Baird reaffirmed an outperform rating and set a $40.00 price objective on shares of Semtech in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Semtech presently has an average rating of Moderate Buy and a consensus price target of $33.10.
View Our Latest Analysis on SMTC
Semtech Price Performance
Institutional Trading of Semtech
Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Ethic Inc. increased its stake in shares of Semtech by 7.6% in the first quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock worth $315,000 after purchasing an additional 320 shares during the period. Zebra Capital Management LLC boosted its holdings in shares of Semtech by 10.5% in the 1st quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock worth $240,000 after acquiring an additional 327 shares in the last quarter. Credit Suisse AG boosted its holdings in shares of Semtech by 0.6% in the 4th quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company’s stock worth $1,773,000 after acquiring an additional 347 shares in the last quarter. Bridgefront Capital LLC raised its position in Semtech by 14.7% in the 1st quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 377 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Semtech by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company’s stock worth $660,000 after purchasing an additional 399 shares during the last quarter.
About Semtech
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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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