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.
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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