Stocks of Semtech Corporation (NASDAQ:SMTC) traded higher last session on Wall Street, down -0.36% to $27.40.
According to the data, Semtech Corporation (NASDAQ:SMTC) has 11 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $63.00 and a low of $32.00, we find $42.50. Given the previous closing price of $27.50, this indicates a potential upside of 54.55 percent. SMTC stock price is now -3.40% away from the 50-day moving average and -41.74% away from the 200-day moving average. The market capitalization of the company currently stands at $1.72B.
A total of 6 analysts have issued a hold rating and 4 have given it a buy rating. Brokers who have rated the stock have averaged $42.50 as their price target over the next twelve months.
On September 01, 2022, Cowen Downgraded its previous ‘Outperform’ rating to ‘Market Perform’ on the stock reducing its target price from $65 to quote $43, while ‘Needham’ rates the stock as ‘Hold’.
In other news, Silberstein Asaf, EVP sold 1,971 shares of the company’s stock on Jun 07. The stock was sold for $123,385 at an average price of $62.60. Upon completion of the transaction, the EVP now directly owns 59,000 shares in the company, valued at $1.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 07, EVP WILSON JOHN MICHAEL sold 9,000 shares of the business’s stock. A total of $560,521 was realized by selling the stock at an average price of $62.28. This leaves the insider owning 16,385 shares of the company worth $0.45 million. Insiders disposed of 120,503 shares of company stock worth roughly $3.3 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SMTC stock. A new stake in Semtech Corporation shares was purchased by JACOBS LEVY EQUITY MANAGEMENT, INC during the first quarter worth $10,182,000. QUADRATURE CAPITAL LTD invested $5,187,000 in shares of SMTC during the first quarter. In the first quarter, JUPITER ASSET MANAGEMENT LTD acquired a new stake in Semtech Corporation valued at approximately $5,134,000. OCCUDO QUANTITATIVE STRATEGIES LP acquired a new stake in SMTC for approximately $4,584,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND purchased a new stake in SMTC valued at around $3,836,000 in the second quarter. In total, there are 416 active investors with 99.00% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $27.50 for Semtech Corporation (NASDAQ: SMTC). During the past 12 months, Semtech Corporation has had a low of $25.29 and a high of $92.14. As of last week, the company has a debt-to-equity ratio of 0.57, a current ratio of 6.00, and a quick ratio of 5.20. The fifty day moving average price for SMTC is $28.37 and a two-hundred day moving average price translates $47.03 for the stock.
The latest earnings results from Semtech Corporation (NASDAQ: SMTC) was released for Jul, 2022. According to the Semiconductors Company, earnings per share came in at $0.87, beating analysts’ expectations of $0.85 by 0.02. This compares to $0.53 EPS in the same period last year. The net profit margin was 18.90% and return on equity was 19.20% for SMTC. The company reported revenue of $177.62 million for the quarter, compared to $194.93 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -8.88 percent. For the current quarter, analysts expect SMTC to generate $175.49M in revenue.
Semtech Corporation(SMTC) Company Profile
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial 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. The company also offers protection products, such as filter and termination devices that are integrated with the transient voltage suppressor devices, which protect electronic systems from voltage spikes; and wireless and sensing products comprising a portfolio of specialized radio frequency products used in various industrial, medical, and communications applications, as well as specialized sensing products used in industrial and consumer applications. In addition, it provides power products consisting of switching voltage regulators, combination switching and linear regulators, smart regulators, isolated switches, and wireless charging that control, alter, regulate, and condition the power within electronic systems. The company serves original equipment manufacturers and their suppliers in the enterprise computing, communications, and consumer and industrial end-markets. It sells its products directly, as well as through independent sales representative firms and independent distributors in North America, Europe, Asia- Pacific, and internationally. The company was incorporated in 1960 and is headquartered in Camarillo, California.