Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Semtech (NASDAQ:SMTC) had its target price boosted by investment analysts at Stifel Nicolaus from $58.00 to $65.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 21.63% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Craig Hallum increased their price objective on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday. B. Riley lifted their target price on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Summit Insights downgraded shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price target (up previously from $60.00) on shares of Semtech in a report on Tuesday. Finally, Susquehanna upped their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.70.

Semtech Price Performance

SMTC opened at $53.44 on Tuesday. The business has a 50 day simple moving average of $45.83 and a two-hundred day simple moving average of $38.96. Semtech has a one year low of $15.63 and a one year high of $53.74. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of -3.94 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million for 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 107.21%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. As a group, sell-side analysts expect that Semtech will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Semtech

Several institutional investors and hedge funds have recently modified their holdings of SMTC. Geode Capital Management LLC boosted its holdings in Semtech by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock valued at $73,883,000 after acquiring an additional 119,572 shares during the period. Disciplined Growth Investors Inc. MN boosted its stake in shares of Semtech by 4.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after purchasing an additional 114,999 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Semtech in the third quarter valued at approximately $763,000. Wellington Management Group LLP purchased a new stake in shares of Semtech during the third quarter worth $10,556,000. Finally, Whale Rock Capital Management LLC purchased a new stake in Semtech during the 3rd quarter worth about $32,126,000.

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.