Stifel Nicolaus Has Lowered Expectations for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its price objective decreased by equities research analysts at Stifel Nicolaus from $54.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 34.39% from the company’s current price.

A number of other equities analysts have also commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of Semtech in a research note on Friday, March 14th. Piper Sandler reissued an “overweight” rating and issued a $55.00 price objective (down from $75.00) on shares of Semtech in a research report on Monday, February 10th. Craig Hallum dropped their target price on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Robert W. Baird decreased their price target on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, UBS Group cut their price target on Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.33.

Semtech Stock Up 0.2 %

Shares of NASDAQ:SMTC traded up $0.05 on Thursday, reaching $26.04. The company had a trading volume of 203,497 shares, compared to its average volume of 2,829,336. The stock has a market capitalization of $2.25 billion, a P/E ratio of -1.99, a P/E/G ratio of 2.12 and a beta of 1.85. The stock has a 50-day moving average price of $34.66 and a 200 day moving average price of $49.37. Semtech has a twelve month low of $24.72 and a twelve month high of $79.52.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Semtech’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, sell-side analysts predict that Semtech will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Semtech

In other news, SVP Imran Sherazi sold 1,338 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the transaction, the senior vice president now owns 14 shares of the company’s stock, valued at approximately $1,050. This trade represents a 98.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Lin sold 2,907 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the transaction, the chief financial officer now directly owns 13,481 shares in the company, valued at $508,368.51. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,125 shares of company stock worth $765,394 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Semtech

Large investors have recently bought and sold shares of the company. Moody National Bank Trust Division lifted its holdings in Semtech by 148.6% during the fourth quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock worth $1,272,000 after acquiring an additional 12,296 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Semtech by 15.8% in the fourth quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company’s stock valued at $25,396,000 after acquiring an additional 56,108 shares during the last quarter. Rhumbline Advisers boosted its position in Semtech by 6.1% during the fourth quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company’s stock valued at $12,702,000 after purchasing an additional 11,878 shares during the last quarter. Convergence Investment Partners LLC acquired a new stake in shares of Semtech in the 4th quarter valued at approximately $2,680,000. Finally, Stephens Inc. AR bought a new position in shares of Semtech in the fourth quarter valued at $889,000.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor 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.