Semtech's Price Target Increased by Northland Securities

On December 11th, 2024, Semtech Corporation (NASDAQ:SMTC) saw its price target increased from $60.00 to $66.00 by Northland Securities, according to a report from Benzinga. The firm has maintained an outperform rating for the semiconductor company's stock, suggesting a favorable outlook for investors.

In addition to Northland Securities, several other analysts have recently provided updates on Semtech. Roth MKM boosted their target price for the stock from $50.00 to $60.00 while issuing a "buy" rating on November 25th. Prior to that, Susquehanna raised their price target from $55.00 to $60.00 and rated the stock as "positive" in a note published on November 21st. Similarly, Needham & Company LLC reaffirmed a "buy" rating and adjusted its target price to $70.00 from a previous $50.00 on November 26th. Stifel Nicolaus also increased their price target for Semtech from $58.00 to $65.00 with a "buy" rating on the same day. However, not all analysts have a positive outlook, as Summit Insights downgraded Semtech from a "buy" to a "hold" rating on August 28th. Currently, there are three analysts rating the stock as a hold and ten giving it a buy rating. As per MarketBeat.com, Semtech has a consensus rating of "Moderate Buy" with an average target price of $68.30.

Semtech's Stock Performance

As of Tuesday, shares of Semtech opened at $62.90. The company has a market cap of approximately $4.76 billion and a P/E ratio of -4.82. With a beta of 1.65, Semtech's stock has shown some volatility. The 50-day moving average stands at $50.07, while the 200-day moving average is at $40.90. Over the past year, Semtech has experienced a low of $18.16 and a high of $70.27.

Semtech recently released its earnings results on November 25th, revealing an earnings per share (EPS) of $0.26, which surpassed the consensus estimate of $0.23 by $0.03. The company has reported a negative return on equity of 154.99% along with a negative net margin of 99.08%. For the quarter, Semtech generated revenue of $236.80 million, exceeding the expected $232.89 million. Compared to the same quarter last year, the revenue increased by 17.9%. Analysts project that Semtech will post an EPS of -0.02 for the current fiscal year.

Investor Activity in Semtech

Recently, several institutional investors have been active in buying and selling shares of Semtech. For instance, Huntington National Bank increased its stake in Semtech by 105.2% during the third quarter, acquiring an additional 302 shares, bringing their total to 589 shares. Other investors, such as Ridgewood Investments LLC and the Canada Pension Plan Investment Board, have also made acquisitions, showing growing interest in the semiconductor sector. NBC Securities Inc. raised its holdings by 115.8% this past quarter, and Quarry LP also invested in Semtech during the second quarter.

About Semtech Corporation

Semtech Corporation specializes in designing, developing, manufacturing, and marketing analog and mixed-signal semiconductor products and advanced algorithms. The company offers a range of signal integrity products, including optical data communication and video transport solutions used in various industrial applications. Semtech also provides integrated circuits for data centers, enterprise networks, and high-speed interface applications, highlighting its extensive portfolio in the semiconductor space.

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