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.
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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.
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