Published On: Mon, Sep 12th, 2016

Weekly Analysts’ Ratings Changes for Semtech Corp. (SMTC)

A number of research firms have changed their ratings and price targets for Semtech Corp. (NASDAQ: SMTC):

9/5/2016 – Semtech Corp. had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
9/4/2016 – Semtech Corp. had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $35.00 price target on the stock.
9/1/2016 – Semtech Corp. had its price target raised by analysts at Drexel Hamilton from $29.00 to $32.00. They now have a “buy” rating on the stock.
8/30/2016 – Semtech Corp. had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $31.50 price target on the stock.
8/25/2016 – Semtech Corp. had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $31.50 price target on the stock.
8/3/2016 – Semtech Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Semtech designs, manufactures and markets a wide range of analog and mixed- signal semiconductors, including Standard Semiconductor Products, Rectifier and Assembly Products and Other Products. The Company’s devices are used in a variety of applications including computer, communications, industrial, military-aerospace and automotive. The Company also provides a limited amount of wafer foundry services to other electronic component manufacturers. “

Shares of Semtech Corp. (NASDAQ:SMTC) opened at 26.11 on Monday. Semtech Corp. has a 12-month low of $14.04 and a 12-month high of $28.17. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 62.02 and a beta of 1.26. The firm’s 50-day moving average price is $25.82 and its 200-day moving average price is $23.21.
Semtech Corp. (NASDAQ:SMTC) last released its earnings results on Wednesday, August 31st. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The business had revenue of $135.90 million for the quarter. During the same period last year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts forecast that Semtech Corp. will post $1.34 EPS for the current fiscal year.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/12/weekly-analysts-ratings-changes-for-semtech-corp-smtc.html

In other news, Director John L. Piotrowski sold 5,000 shares of Semtech Corp. stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $24.08, for a total transaction of $120,400.00. Following the sale, the director now owns 3,045 shares of the company’s stock, valued at approximately $73,323.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mohan Maheswaran sold 1,500 shares of Semtech Corp. stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $26.00, for a total transaction of $39,000.00. Following the sale, the insider now directly owns 184,867 shares in the company, valued at approximately $4,806,542. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.

Receive News & Ratings for Semtech Corp Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Semtech Corp and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>