Today: Today, Semtech Corp. (SMTC) Stock Rating Reaffirm by B. Riley

Today, Semtech Corp. (SMTC) Stock Rating Reaffirm by B. Riley

Semtech Corp. (NASDAQ:SMTC)‘s stock had its “buy” rating reissued by equities research analysts at B. Riley in a note issued to investors on Saturday. They presently have a $37.00 price target on the stock. B. Riley’s price objective indicates a potential upside of 30.74% from the stock’s current price.

Several other research firms also recently issued reports on SMTC. Drexel Hamilton upped their price objective on Semtech Corp. from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, September 1st. Zacks Investment Research cut shares of Semtech Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Semtech Corp. in a research report on Monday, September 5th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $27.33.

Shares of Semtech Corp. (NASDAQ:SMTC) opened at 28.30 on Friday. The firm has a market cap of $1.86 billion, a PE ratio of 67.22 and a beta of 1.39. Semtech Corp. has a 52-week low of $15.70 and a 52-week high of $28.45. The company’s 50-day moving average price is $25.72 and its 200-day moving average price is $25.07.

Semtech Corp. (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Semtech Corp. had a return on equity of 8.89% and a net margin of 5.55%. The firm had revenue of $135.90 million for the quarter. During the same period in the prior year, the company posted $0.24 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts expect that Semtech Corp. will post $1.34 earnings per share for the current fiscal year.

In related news, insider Mohan Maheswaran sold 1,500 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $26.06, for a total value of $39,090.00. Following the completion of the sale, the insider now owns 180,367 shares in the company, valued at approximately $4,700,364.02. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rockell N. Hankin sold 6,795 shares of the company’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $27.73, for a total transaction of $188,425.35. Following the completion of the sale, the director now owns 166,735 shares of the company’s stock, valued at approximately $4,623,561.55. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in Semtech Corp. by 0.4% in the second quarter. Creative Planning now owns 6,528 shares of the company’s stock worth $156,000 after buying an additional 28 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Semtech Corp. by 0.3% in the third quarter. Louisiana State Employees Retirement System now owns 29,000 shares of the company’s stock worth $804,000 after buying an additional 100 shares in the last quarter. Aperio Group LLC boosted its stake in Semtech Corp. by 1.3% in the third quarter. Aperio Group LLC now owns 11,499 shares of the company’s stock worth $319,000 after buying an additional 148 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Semtech Corp. by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 14,510 shares of the company’s stock worth $402,000 after buying an additional 260 shares in the last quarter. Finally, PineBridge Investments L.P. boosted its stake in Semtech Corp. by 4.4% in the second quarter. PineBridge Investments L.P. now owns 8,278 shares of the company’s stock worth $198,000 after buying an additional 348 shares in the last quarter. Institutional investors and hedge funds own 96.53% of the company’s stock.

About Semtech Corp.

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