Analysts’ Weekly Ratings Updates for Semtech (SMTC)

Semtech (NASDAQ: SMTC) has recently received a number of price target changes and ratings updates:

  • 5/30/2019 – Semtech had its price target lowered by analysts at Oppenheimer Holdings Inc. from $60.00 to $52.00. They now have an “outperform” rating on the stock.
  • 5/30/2019 – Semtech was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 5/30/2019 – Semtech had its price target lowered by analysts at B. Riley from $65.00 to $60.00. They now have a “buy” rating on the stock.
  • 5/29/2019 – Semtech was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 5/21/2019 – Semtech is now covered by analysts at Cowen Inc. They set an “outperform” rating and a $56.00 price target on the stock.
  • 5/14/2019 – Semtech is now covered by analysts at Wells Fargo & Co. They set an “outperform” rating and a $48.03 price target on the stock.
  • 5/14/2019 – Semtech was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Semtech’s strong performance in the industrial and communications markets continues to drive its top-line growth. Additionally, the company's product differentiation, operational flexibility and a specific focus on fast-growing segments and regions continue to be its key growth drivers, which is a positive. Notably, the stock has outperformed the industry it belongs to over a year. However, the company continues to be impacted by mounting competition in the semiconductor space, including slowing demand in China. The resultant pricing pressure continues to impact the company’s margins and profitability. Moreover, the seasonality in the consumer segment is a matter of concern.”
  • 5/10/2019 – Semtech was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

NASDAQ:SMTC traded up $0.10 during trading hours on Friday, hitting $42.01. 22,045 shares of the company’s stock traded hands, compared to its average volume of 576,293. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 3.00 and a beta of 1.81. Semtech Co. has a twelve month low of $39.54 and a twelve month high of $60.55. The company has a current ratio of 4.42, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, May 29th. The semiconductor company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.16. Semtech had a return on equity of 14.05% and a net margin of 10.18%. The firm had revenue of $131.40 million for the quarter, compared to analyst estimates of $130.40 million. During the same period in the previous year, the firm earned $0.47 earnings per share. Semtech’s quarterly revenue was down 13.5% on a year-over-year basis. Equities analysts forecast that Semtech Co. will post 1.15 earnings per share for the current year.

In other Semtech news, CFO Emeka Chukwu sold 1,100 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $53.86, for a total value of $59,246.00. Following the transaction, the chief financial officer now directly owns 127,886 shares of the company’s stock, valued at approximately $6,887,939.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP James Jungsup Kim sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $43.81, for a total value of $1,314,300.00. Following the completion of the transaction, the executive vice president now directly owns 81,854 shares in the company, valued at $3,586,023.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,514 shares of company stock worth $7,645,374. Insiders own 1.96% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund acquired a new position in Semtech in the 4th quarter worth about $25,000. Pearl River Capital LLC acquired a new position in Semtech in the 4th quarter worth about $25,000. Cutler Group LP acquired a new position in Semtech in the 4th quarter worth about $27,000. Cullen Frost Bankers Inc. acquired a new position in Semtech in the 1st quarter worth about $27,000. Finally, Enlightenment Research LLC acquired a new position in Semtech in the 4th quarter worth about $28,000. 96.49% of the stock is currently owned by institutional investors.

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications 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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