Semtech (NASDAQ:SMTC) Stock Rating Lowered by BWS Financial

Semtech (NASDAQ:SMTC) was downgraded by stock analysts at BWS Financial from a “buy” rating to a “hold” rating in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $50.00 price target on the semiconductor company’s stock, down from their prior price target of $70.00. BWS Financial’s price objective would suggest a potential downside of 4.58% from the stock’s current price.

SMTC has been the topic of a number of other reports. Craig Hallum decreased their target price on Semtech from $9.00 to $6.00 in a research report on Monday, September 23rd. Robert W. Baird set a $45.00 price objective on Semtech and gave the company a “buy” rating in a research report on Monday, August 26th. B. Riley reduced their price objective on Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Piper Jaffray Companies upped their price objective on Semtech from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Co restated an “outperformer” rating and issued a $60.00 price objective (down from $65.00) on shares of Semtech in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $49.17.

SMTC stock traded down $0.50 during trading on Friday, hitting $52.40. 248,000 shares of the company’s stock were exchanged, compared to its average volume of 269,305. The business has a 50-day moving average price of $50.50 and a two-hundred day moving average price of $47.82. The company has a current ratio of 4.10, a quick ratio of 3.42 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 4.17 and a beta of 1.93. Semtech has a 52-week low of $39.54 and a 52-week high of $57.96.

Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, August 28th. The semiconductor company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. The company had revenue of $137.10 million for the quarter, compared to the consensus estimate of $134.85 million. Semtech had a return on equity of 12.91% and a net margin of 7.34%. Semtech’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. On average, equities research analysts anticipate that Semtech will post 1.06 earnings per share for the current fiscal year.

In related news, EVP Asaf Silberstein sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $55.00, for a total value of $330,000.00. Following the completion of the transaction, the executive vice president now directly owns 50,653 shares in the company, valued at $2,785,915. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alisair Fulton sold 709 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $49.38, for a total value of $35,010.42. The disclosure for this sale can be found here. Insiders sold 25,717 shares of company stock worth $1,262,791 over the last 90 days. Company insiders own 1.96% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd increased its stake in Semtech by 28.1% in the second quarter. Point72 Hong Kong Ltd now owns 1,450 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 318 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Semtech during the second quarter worth about $86,000. Marshall Wace LLP acquired a new stake in Semtech during the second quarter worth about $203,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Semtech by 8.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,346 shares of the semiconductor company’s stock worth $211,000 after acquiring an additional 347 shares during the last quarter. Finally, Oakbrook Investments LLC acquired a new stake in Semtech during the second quarter worth about $211,000. Hedge funds and other institutional investors own 96.41% of the company’s stock.

Semtech Company Profile

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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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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