Semtech’s (SMTC) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Semtech (NASDAQ:SMTC) in a research note issued to investors on Tuesday morning,Benzinga reports. Piper Sandler currently has a $75.00 target price on the semiconductor company’s stock, up from their prior target price of $60.00.

A number of other equities analysts have also recently issued reports on the company. Northland Securities upped their target price on Semtech from $46.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday. Craig Hallum upped their price objective on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday. B. Riley raised their price objective on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Susquehanna upped their price target on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.70.

Semtech Stock Up 1.7 %

Shares of SMTC stock opened at $64.20 on Tuesday. The company has a market cap of $4.83 billion, a P/E ratio of -4.74 and a beta of 1.54. Semtech has a twelve month low of $15.63 and a twelve month high of $66.64. The business has a fifty day simple moving average of $46.64 and a 200 day simple moving average of $39.30.

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

Institutional Trading of Semtech

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Semtech by 8.0% in 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 during the period. Disciplined Growth Investors Inc. MN increased its holdings in Semtech by 4.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after purchasing an additional 114,999 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Semtech in the third quarter valued at approximately $763,000. Wellington Management Group LLP purchased a new position in shares of Semtech during the third quarter valued at approximately $10,556,000. Finally, Whale Rock Capital Management LLC bought a new stake in Semtech during the third quarter worth $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.