Robert W. Baird Has Lowered Expectations for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its price objective lowered by Robert W. Baird from $80.00 to $60.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

Several other brokerages have also issued reports on SMTC. Benchmark raised their price objective on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC raised their price target on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Susquehanna lifted their price target on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Roth Mkm increased their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, B. Riley upped their price target on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Semtech Stock Down 9.9 %

SMTC stock opened at $54.51 on Friday. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of -4.18 and a beta of 1.64. Semtech has a fifty-two week low of $19.12 and a fifty-two week high of $79.52. The business has a 50 day moving average price of $65.85 and a 200 day moving average price of $50.49.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 EPS.

Insider Buying and Selling

In other Semtech news, CFO Mark Lin sold 2,990 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $59.45, for a total transaction of $177,755.50. Following the sale, the chief financial officer now directly owns 5,446 shares in the company, valued at approximately $323,764.70. The trade was a 35.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.30, for a total transaction of $186,481.80. Following the completion of the transaction, the senior vice president now owns 6,317 shares of the company’s stock, valued at $399,866.10. This represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,747 shares of company stock valued at $1,095,061 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Semtech

Several institutional investors have recently modified their holdings of the company. Huntington National Bank increased its stake in Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 505 shares during the last quarter. NBC Securities Inc. increased its position in shares of Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 739 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Semtech by 173.5% during the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after buying an additional 772 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Semtech by 4,464.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after buying an additional 1,652 shares in the last quarter.

About Semtech

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.