Analysts Set Semtech Corporation (NASDAQ:SMTC) Target Price at $95.71

Shares of Semtech Corporation (NASDAQ:SMTC) have been given an average recommendation of “Moderate Buy” by the sixteen brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $95.7143.

SMTC has been the topic of a number of research reports. Oppenheimer raised their target price on shares of Semtech from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Robert W. Baird raised their target price on shares of Semtech from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Benchmark raised their target price on shares of Semtech from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. B. Riley Financial raised their target price on shares of Semtech from $115.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Finally, Craig Hallum raised their target price on shares of Semtech from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th.

Semtech Trading Up 5.5%

Shares of Semtech stock opened at $112.98 on Friday. The firm has a market capitalization of $10.52 billion, a PE ratio of -256.77 and a beta of 2.22. Semtech has a twelve month low of $33.06 and a twelve month high of $113.18. The firm’s 50-day moving average price is $88.82 and its 200 day moving average price is $80.11. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The business had revenue of $274.40 million for the quarter, compared to analyst estimates of $273.14 million. During the same period last year, the company posted $0.40 EPS. The business’s revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts predict that Semtech will post 1.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other Semtech news, CEO Hong Q. Hou sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $90.11, for a total value of $180,220.00. Following the transaction, the chief executive officer directly owned 73,228 shares of the company’s stock, valued at $6,598,575.08. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 9,186 shares of Semtech stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $75.05, for a total transaction of $689,409.30. Following the sale, the chief financial officer directly owned 32,710 shares in the company, valued at approximately $2,454,885.50. The trade was a 21.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 46,384 shares of company stock worth $3,920,140. 0.48% of the stock is currently owned by insiders.

Institutional Trading of Semtech

Several institutional investors have recently made changes to their positions in SMTC. Banque Cantonale Vaudoise purchased a new stake in shares of Semtech during the 1st quarter valued at approximately $33,000. Hantz Financial Services Inc. raised its position in shares of Semtech by 243.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 360 shares during the period. Salomon & Ludwin LLC purchased a new stake in shares of Semtech during the 3rd quarter valued at approximately $41,000. AlphaQuest LLC raised its position in shares of Semtech by 42.5% during the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 173 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of Semtech by 65.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 235 shares during the period.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.