Semtech (NASDAQ:SMTC) Price Target Raised to $65.00

Semtech (NASDAQ:SMTC) had its price target hoisted by Stifel Nicolaus from $58.00 to $65.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Craig Hallum increased their target price on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday. Susquehanna lifted their price objective on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Piper Sandler restated an “overweight” rating and issued a $75.00 target price (up from $60.00) on shares of Semtech in a research note on Tuesday. B. Riley boosted their price target on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Benchmark reaffirmed a “buy” rating and set a $56.00 price objective on shares of Semtech in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.70.

Semtech Stock Performance

NASDAQ SMTC opened at $64.20 on Tuesday. The stock has a 50-day simple moving average of $46.64 and a 200 day simple moving average of $39.30. Semtech has a twelve month low of $15.63 and a twelve month high of $66.64. The stock has a market capitalization of $4.83 billion, a PE ratio of -4.74 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. Semtech’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 earnings per share. As a group, equities research analysts forecast that Semtech will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Semtech

Large investors have recently bought and sold shares of the business. Huntington National Bank boosted its stake in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Semtech by 2.3% in the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock valued at $540,000 after buying an additional 407 shares in the last quarter. Hanseatic Management Services Inc. raised its holdings in shares of Semtech by 3.2% in the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after buying an additional 447 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Semtech by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock worth $214,000 after buying an additional 461 shares in the last quarter. Finally, Creative Planning grew its holdings in Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after acquiring an additional 588 shares during the last quarter.

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.