Semtech (NASDAQ:SMTC) Receives $66 Price Target from Northland Securities

On December 11, 2024, Northland Securities announced a price target increase for Semtech Corporation (NASDAQ:SMTC) from $60.00 to $66.00. This information was shared in a research report, indicating that the investment firm maintains an "outperform" rating on the company's stock, which specializes in semiconductor solutions.

In addition to Northland Securities, several other analysts have recently provided their evaluations on Semtech. Roth MKM raised their price target for Semtech's shares from $50.00 to $60.00 and assigned the stock a "buy" rating in their report released on November 25. Furthermore, on November 21, Susquehanna adjusted their price objective for Semtech from $55.00 to $60.00, also giving the stock a "positive" rating. Meanwhile, Needham & Company LLC reaffirmed a "buy" rating while increasing their target price from $50.00 to $70.00 on November 26. Additionally, Stifel Nicolaus raised their price target from $58.00 to $65.00, designating the stock as a "buy" in a report on the same day. However, Summit Insights downgraded Semtech from a "buy" rating to a "hold" rating on August 28.

Overall, four analysts expressed a hold rating, while ten provided a buy rating for the stock. MarketBeat.com reports that semtech holds a consensus rating of "Moderate Buy" along with an average price target of $68.30.

Semtech's Stock Performance

On December 11, Semtech's shares opened at $62.90. The company boasts a market capitalization of $4.76 billion, with a P/E ratio of -4.82 and a beta of 1.65. The stock's 50-day moving average stands at $50.07, while the 200-day moving average is $40.90. Over the past year, Semtech's share prices have fluctuated between a low of $18.16 and a high of $70.27.

In its latest earnings report on November 25, Semtech reported earnings of $0.26 per share for the quarter, exceeding the consensus expectation of $0.23 by $0.03. The company also reported a negative return on equity of 154.99% alongside a negative net margin of 99.08%. Semtech generated a revenue of $236.80 million for the quarter, which was slightly above analyst predictions of $232.89 million. This marks a 17.9% increase in revenue compared to the same quarter the previous year. Analysts project that Semtech will report an EPS of -0.02 for the current fiscal year.

Institutional Investor Activity

Recently, several institutional investors have adjusted their positions in Semtech shares. For instance, Huntington National Bank increased its stake in Semtech by 105.2% during the third quarter, now holding 589 shares valued at around $27,000 after adding 302 shares. Ridgewood Investments LLC acquired a new position worth about $44,000 in the second quarter. Canada's Pension Plan Investment Board also purchased a new stake valued at approximately $60,000 during the same timeframe. Additionally, NBC Securities Inc. boosted their stake by 115.8% during the third quarter, ending up with 1,377 shares worth $62,000 after obtaining 739 extra shares. Quarry LP made a similar move by acquiring a new position in Semtech valued around $63,000 in the second quarter.

Overview of Semtech

Semtech Corporation is engaged in designing, developing, manufacturing, and marketing analog and mixed-signal semiconductors, as well as advanced algorithms. The company offers a range of signal integrity products, which include optical data communications and video transport systems used across diverse infrastructures and industrial applications. They also have integrated circuits tailored for data centers, enterprise networking, passive optical networks, wireless base station optical transceivers, and high-speed interface applications. Additionally, Semtech provides video products catering to broadcasting applications, along with video-over-IP technology for professional audio and video needs.

Semtech, PriceTarget, Analysts