Semtech (SMTC) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Semtech (NASDAQ:SMTC) from a strong sell rating to a sell rating in a report issued on Tuesday.

Several other research analysts have also recently issued reports on the stock. Roth Capital set a $63.00 target price on shares of Semtech and gave the stock a buy rating in a report on Monday, October 8th. ValuEngine upgraded shares of Semtech from a buy rating to a strong-buy rating in a report on Wednesday, September 12th. Needham & Company LLC increased their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a buy rating in a report on Thursday, August 30th. Piper Jaffray Companies increased their target price on shares of Semtech from $57.00 to $63.00 and gave the stock an overweight rating in a report on Monday, September 10th. Finally, Oppenheimer increased their target price on shares of Semtech from $58.00 to $65.00 and gave the stock an outperform rating in a report on Thursday, August 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Semtech presently has a consensus rating of Buy and a consensus target price of $59.55.

SMTC stock opened at $46.73 on Tuesday. The stock has a market capitalization of $3.21 billion, a P/E ratio of 33.38, a P/E/G ratio of 6.22 and a beta of 1.68. Semtech has a 12 month low of $31.30 and a 12 month high of $60.55. The company has a current ratio of 4.13, a quick ratio of 3.62 and a debt-to-equity ratio of 0.29.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, August 29th. The semiconductor company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The company had revenue of $163.20 million for the quarter, compared to the consensus estimate of $161.21 million. Semtech had a net margin of 8.48% and a return on equity of 12.66%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. On average, equities research analysts expect that Semtech will post 1.56 EPS for the current fiscal year.

In other news, VP Simon A. Brown sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $59.01, for a total value of $118,020.00. Following the sale, the vice president now directly owns 17,193 shares in the company, valued at approximately $1,014,558.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rockell N. Hankin sold 2,928 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $57.30, for a total transaction of $167,774.40. Following the completion of the sale, the director now owns 157,868 shares in the company, valued at $9,045,836.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,886 shares of company stock worth $2,288,967. 2.30% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Semtech by 4.0% in the 3rd quarter. BlackRock Inc. now owns 9,497,991 shares of the semiconductor company’s stock valued at $528,088,000 after buying an additional 363,609 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Semtech by 18.4% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 4,407,687 shares of the semiconductor company’s stock valued at $207,382,000 after buying an additional 684,861 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Semtech by 30.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,299,759 shares of the semiconductor company’s stock valued at $127,868,000 after buying an additional 543,325 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Semtech by 2.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,155,889 shares of the semiconductor company’s stock valued at $119,867,000 after buying an additional 47,871 shares in the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Semtech by 4.5% in the 2nd quarter. Stephens Investment Management Group LLC now owns 1,269,062 shares of the semiconductor company’s stock valued at $59,709,000 after buying an additional 55,141 shares in the last quarter. Institutional investors and hedge funds own 96.77% of the company’s stock.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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