Semtech (NASDAQ: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 released on Friday, BidAskClub reports.

A number of other analysts also recently commented on SMTC. ValuEngine upgraded shares of Semtech from a buy rating to a strong-buy rating in a report on Friday, February 22nd. B. Riley increased their price target on shares of Semtech from $61.00 to $68.00 and gave the company a buy rating in a research note on Wednesday, February 27th. Roth Capital cut shares of Semtech from a buy rating to a neutral rating and set a $49.00 price target for the company. in a research note on Thursday, March 14th. Loop Capital raised shares of Semtech to a buy rating in a research note on Monday, March 18th. Finally, Zacks Investment Research cut shares of Semtech from a hold rating to a strong sell rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $55.00.

SMTC stock opened at $46.32 on Friday. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 3.36 and a beta of 1.81. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.42 and a quick ratio of 3.71. Semtech has a 12 month low of $39.54 and a 12 month high of $60.55.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, May 29th. The semiconductor company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.16. The company had revenue of $131.40 million during the quarter, compared to the consensus estimate of $130.40 million. Semtech had a net margin of 10.18% and a return on equity of 14.05%. Semtech’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, sell-side analysts expect that Semtech will post 1.15 earnings per share for the current year.

In related news, VP Alisair Fulton sold 500 shares of Semtech stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $52.78, for a total value of $26,390.00. Following the completion of the sale, the vice president now owns 1,882 shares in the company, valued at approximately $99,331.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark C. Costello sold 12,046 shares of Semtech stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $45.46, for a total transaction of $547,611.16. Following the completion of the sale, the vice president now owns 12,041 shares of the company’s stock, valued at approximately $547,383.86. The disclosure for this sale can be found here. In the last three months, insiders sold 52,746 shares of company stock valued at $2,426,627. Corporate insiders own 1.96% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SMTC. Oregon Public Employees Retirement Fund purchased a new stake in Semtech during the 4th quarter worth approximately $25,000. Norges Bank purchased a new stake in Semtech during the 4th quarter worth approximately $40,233,000. JPMorgan Chase & Co. increased its stake in Semtech by 524.7% during the 1st quarter. JPMorgan Chase & Co. now owns 873,124 shares of the semiconductor company’s stock worth $44,450,000 after buying an additional 733,351 shares during the period. FMR LLC increased its stake in Semtech by 16.2% during the 4th quarter. FMR LLC now owns 4,114,152 shares of the semiconductor company’s stock worth $188,717,000 after buying an additional 573,087 shares during the period. Finally, Fiera Capital Corp increased its position in shares of Semtech by 518.6% in the 1st quarter. Fiera Capital Corp now owns 671,903 shares of the semiconductor company’s stock valued at $34,206,000 after purchasing an additional 563,292 shares during the last quarter. 96.44% of the stock is currently owned by institutional investors.

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, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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