Roth Mkm Forecasts Strong Price Appreciation for Semtech (NASDAQ:SMTC) Stock

Semtech (NASDAQ:SMTC) had its price objective upped by Roth Mkm from $50.00 to $60.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts have also recently commented on the stock. Benchmark reiterated a “buy” rating and issued a $56.00 target price on shares of Semtech in a research report on Monday, October 7th. Stifel Nicolaus increased their target price on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. B. Riley increased their price objective on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Susquehanna lifted their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and an average target price of $67.70.

Semtech Trading Up 1.7 %

SMTC opened at $64.20 on Monday. The stock has a market capitalization of $4.83 billion, a P/E ratio of -4.74 and a beta of 1.54. The stock has a 50-day moving average price of $46.64 and a 200-day moving average price of $39.30. Semtech has a 12-month low of $15.63 and a 12-month high of $66.64.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. Semtech’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 earnings per share. On average, equities research analysts predict that Semtech will post -0.07 EPS for the current year.

Institutional Trading of Semtech

Several institutional investors and hedge funds have recently bought and sold shares of SMTC. Vanguard Group Inc. raised its position in shares of Semtech by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after acquiring an additional 131,133 shares in the last quarter. Millennium Management LLC raised its holdings in Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after purchasing an additional 765,877 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Semtech by 4.6% during 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 buying an additional 114,999 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 119,572 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Semtech in the 2nd quarter worth about $43,395,000.

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.