Stocks: Semtech Co. (SMTC) Research Coverage Started at Robert W. Baird

Stocks: Semtech Co. (SMTC) Research Coverage Started at Robert W. Baird

Robert W. Baird initiated coverage on shares of Semtech Co. (NASDAQ:SMTC) in a report published on Tuesday. The firm issued an outperform rating and a $45.00 price target on the semiconductor company’s stock.

Other equities research analysts have also recently issued reports about the stock. B. Riley reiterated a buy rating and issued a $37.00 target price on shares of Semtech in a research report on Monday, January 9th. DA Davidson increased their target price on shares of Semtech from $35.00 to $42.00 and gave the company a buy rating in a research report on Thursday, March 9th. Drexel Hamilton reiterated a buy rating and issued a $42.00 target price (up from $35.00) on shares of Semtech in a research report on Thursday, March 9th. Summit Redstone reiterated a buy rating on shares of Semtech in a research report on Thursday, January 19th. Finally, Zacks Investment Research cut shares of Semtech from a hold rating to a sell rating in a research report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $40.00.

Shares of Semtech (NASDAQ:SMTC) opened at 35.55 on Tuesday. The company has a market capitalization of $2.35 billion, a P/E ratio of 42.83 and a beta of 1.40. The firm has a 50-day moving average of $33.68 and a 200-day moving average of $31.84. Semtech has a one year low of $20.09 and a one year high of $37.35.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, March 8th. The semiconductor company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02. The company had revenue of $140 million during the quarter, compared to analysts’ expectations of $138.34 million. Semtech had a net margin of 9.16% and a return on equity of 10.40%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. Analysts forecast that Semtech will post $1.78 earnings per share for the current year.

In related news, insider Mohan Maheswaran sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $33.49, for a total transaction of $50,235.00. Following the completion of the sale, the insider now directly owns 175,867 shares in the company, valued at $5,889,785.83. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Marc Pegulu sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $34.50, for a total transaction of $34,500.00. Following the sale, the vice president now owns 11,894 shares of the company’s stock, valued at $410,343. The disclosure for this sale can be found here. Insiders sold 36,727 shares of company stock valued at $1,248,666 over the last quarter. Company insiders own 2.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SMTC. FMR LLC boosted its stake in Semtech by 13.9% in the first quarter. FMR LLC now owns 7,252,051 shares of the semiconductor company’s stock valued at $245,119,000 after buying an additional 886,529 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Semtech by 15.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,894,433 shares of the semiconductor company’s stock valued at $52,533,000 after buying an additional 253,278 shares during the last quarter. State Street Corp boosted its stake in Semtech by 6.7% in the fourth quarter. State Street Corp now owns 1,692,697 shares of the semiconductor company’s stock valued at $53,405,000 after buying an additional 105,963 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in Semtech by 40.9% in the first quarter. OppenheimerFunds Inc. now owns 1,600,631 shares of the semiconductor company’s stock valued at $54,102,000 after buying an additional 464,687 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in Semtech by 7.9% in the first quarter. Stephens Investment Management Group LLC now owns 1,082,257 shares of the semiconductor company’s stock valued at $36,580,000 after buying an additional 79,493 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

About Semtech

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.

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