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

Semtech (NASDAQ:SMTC) had its target price lifted by investment analysts at Susquehanna from $55.00 to $60.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price points to a potential upside of 17.90% from the stock’s previous close.

A number of other brokerages have also commented on SMTC. Benchmark restated a “buy” rating and set a $56.00 price objective on shares of Semtech in a research report on Monday, October 7th. Stifel Nicolaus raised their price target on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Finally, 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. Three 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $53.10.

Semtech Trading Down 0.0 %

SMTC stock opened at $50.89 on Thursday. The firm has a 50-day moving average of $45.56 and a two-hundred day moving average of $38.88. The firm has a market capitalization of $3.83 billion, a PE ratio of -3.76 and a beta of 1.54. Semtech has a one year low of $15.53 and a one year high of $53.22.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The firm had revenue of $215.40 million during the quarter, compared to analyst estimates of $212.30 million. During the same quarter last year, the business posted ($0.06) EPS. The company’s revenue was down 9.6% on a year-over-year basis. On average, equities research analysts anticipate that Semtech will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SMTC. Vanguard Group Inc. boosted its position in Semtech by 1.6% during the first 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 during the period. Assenagon Asset Management S.A. bought a new stake in shares of Semtech during the 2nd quarter worth $13,239,000. Harbor Capital Advisors Inc. grew its stake in Semtech by 135.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock valued at $1,943,000 after buying an additional 24,517 shares during the last quarter. SG Capital Management LLC bought a new position in Semtech in the 1st quarter worth $7,084,000. Finally, Fred Alger Management LLC bought a new position in Semtech in the 2nd quarter worth $14,307,000.

Semtech Company Profile

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.