Shares of Semtech Co. (NASDAQ:SMTC – Get Rating) have earned a consensus recommendation of "Hold" from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.90.

SMTC has been the topic of several research reports. B. Riley dropped their target price on Semtech from $53.00 to $34.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 4th. Cowen dropped their target price on Semtech from $43.00 to $33.00 in a research report on Thursday, December 1st. Stifel Nicolaus dropped their target price on Semtech from $45.00 to $40.00 in a research report on Tuesday, November 22nd. Susquehanna decreased their price objective on Semtech from $34.00 to $32.00 in a research note on Thursday, December 1st. Finally, Cowen decreased their price objective on Semtech from $43.00 to $33.00 in a research note on Thursday, December 1st.

Institutional Trading of Semtech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Semtech by 18.0% during the 3rd quarter. BlackRock Inc. now owns 8,735,877 shares of the semiconductor company's stock valued at $256,921,000 after purchasing an additional 1,331,220 shares during the period. Vanguard Group Inc. raised its stake in Semtech by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,576,015 shares of the semiconductor company's stock valued at $193,401,000 after purchasing an additional 151,730 shares during the period. State Street Corp raised its stake in Semtech by 18.0% during the 3rd quarter. State Street Corp now owns 2,972,853 shares of the semiconductor company's stock valued at $87,432,000 after purchasing an additional 453,726 shares during the period. Federated Hermes Inc. raised its stake in Semtech by 2,792.2% during the 3rd quarter. Federated Hermes Inc. now owns 1,582,315 shares of the semiconductor company's stock valued at $46,536,000 after purchasing an additional 1,527,605 shares during the period. Finally, Macquarie Group Ltd. increased its stake in Semtech by 14.4% in the 3rd quarter. Macquarie Group Ltd. now owns 1,431,728 shares of the semiconductor company's stock worth $42,136,000 after acquiring an additional 180,191 shares during the last quarter. Institutional investors own 96.32% of the company's stock.

Semtech Trading Up 1.2 %

Semtech (NASDAQ:SMTC – Get Rating) last announced its earnings results on Wednesday, November 30th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $177.62 million for the quarter, compared to analysts' expectations of $176.03 million. Semtech had a return on equity of 21.15% and a net margin of 18.88%. On average, sell-side analysts predict that Semtech will post 2.3 EPS for the current year.

Semtech Company Profile

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Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.

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• Get a free copy of the StockNews.com research report on Semtech (SMTC)
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