Piper Jaffray Reconfirmed Semtech (NASDAQ:SMTC) As a “Buy”; They Now Have a PT Of $57.0000

Semtech Corporation (NASDAQ:SMTC) Logo

Investors sentiment decreased to 1.14 in 2018 Q2. Its down 0.07, from 1.21 in 2018Q1. It is negative, as 21 investors sold Semtech Corporation shares while 62 reduced holdings. 34 funds opened positions while 61 raised stakes. 63.32 million shares or 0.69% more from 62.89 million shares in 2018Q1 were reported.

23,623 were accumulated by Panagora Asset Mgmt. Amalgamated Retail Bank, New York-based fund reported 10,549 shares. Shelton has 0.02% invested in Semtech Corporation (NASDAQ:SMTC) for 6,412 shares. Guggenheim Cap Limited Liability holds 0% of its portfolio in Semtech Corporation (NASDAQ:SMTC) for 7,880 shares. 264,612 were reported by Clearbridge Limited Company. Quantbot Techs L P accumulated 6,572 shares. Moreover, D E Shaw And Company Incorporated has 0.02% invested in Semtech Corporation (NASDAQ:SMTC) for 277,582 shares. Envestnet Asset has 0% invested in Semtech Corporation (NASDAQ:SMTC). Moreover, Aperio Ltd Com has 0% invested in Semtech Corporation (NASDAQ:SMTC). Manufacturers Life Ins The owns 47,695 shares. Capital stated it has 620,000 shares. Fiera Capital Corp invested 0.03% in Semtech Corporation (NASDAQ:SMTC). Cibc Asset reported 4,562 shares. New York State Teachers Retirement Systems stated it has 0.01% of its portfolio in Semtech Corporation (NASDAQ:SMTC). Zurcher Kantonalbank (Zurich Cantonalbank) holds 4,478 shares or 0% of its portfolio.

Since June 4, 2018, it had 0 buys, and 26 selling transactions for $8.32 million activity. LINDSTROM JAMES T also sold $97,506 worth of Semtech Corporation (NASDAQ:SMTC) on Wednesday, September 12. MAHESWARAN MOHAN had sold 7,000 shares worth $332,592. KIM JAMES JUNGSUP had sold 4,971 shares worth $298,260. Costello Mark C also sold $61,939 worth of Semtech Corporation (NASDAQ:SMTC) on Thursday, September 6. HANKIN ROCKELL N also sold $167,768 worth of Semtech Corporation (NASDAQ:SMTC) on Tuesday, September 4. 2,000 shares were sold by Brown Simon A, worth $118,010 on Tuesday, September 4.

Semtech (NASDAQ:SMTC) Rating Reaffirmed

New York: In an analyst note sent to investors and clients on 29 November, Piper Jaffray maintained their “Buy” rating on Semtech (NASDAQ:SMTC) shares. They now have a $57.0000 target price on the company. Piper Jaffray’s target suggests a potential upside of 6.86 % from the company’s stock close price.

Semtech Corporation (NASDAQ:SMTC) Ratings Coverage

Among 6 analysts covering Semtech (NASDAQ:SMTC), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Semtech has $68 highest and $5500 lowest target. $57.50’s average target is 7.80% above currents $53.34 stock price. Semtech had 9 analyst reports since June 21, 2018 according to SRatingsIntel. The firm earned “Hold” rating on Tuesday, September 4 by Needham. Piper Jaffray maintained Semtech Corporation (NASDAQ:SMTC) on Thursday, November 29 with “Buy” rating. As per Thursday, June 21, the company rating was maintained by Needham. The firm has “Outperform” rating given on Thursday, June 21 by Oppenheimer. On Thursday, June 21 the stock rating was maintained by FBR Capital with “Buy”. The company was maintained on Thursday, October 11 by Stifel Nicolaus. The rating was maintained by Stifel Nicolaus with “Buy” on Thursday, August 30.

The stock increased 2.95% or $1.53 during the last trading session, reaching $53.34. About 586,728 shares traded or 17.00% up from the average. Semtech Corporation (NASDAQ:SMTC) has risen 64.39% since December 2, 2017 and is uptrending. It has outperformed by 48.77% the S&P500.

Analysts await Semtech Corporation (NASDAQ:SMTC) to report earnings on December, 5. They expect $0.46 earnings per share, up 35.29 % or $0.12 from last year’s $0.34 per share. SMTC’s profit will be $30.46 million for 28.99 P/E if the $0.46 EPS becomes a reality. After $0.37 actual earnings per share reported by Semtech Corporation for the previous quarter, Wall Street now forecasts 24.32 % EPS growth.

Semtech Corporation designs, develops, makes, and markets analog and mixed-signal semiconductor products. The company has market cap of $3.53 billion. The firm provides signal integrity products, including a portfolio of optical communications, broadcast video, and backplane products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for optical transceivers, backplane, and high-speed interface applications. It has a 72.87 P/E ratio. It also offers protection products, such as filter and termination devices that are integrated with the transient voltage suppressor devices, which protect electronic systems from voltage spikes; and wireless and sensing products comprising a portfolio of specialized radio frequency products used in various industrial, medical, and communications applications, as well as specialized sensing products used in industrial and consumer applications.

More notable recent Semtech Corporation (NASDAQ:SMTC) news were published by: Nasdaq.com which released: “Semtech (SMTC) to Report Q3 Earnings: What’s in the Offing? – Nasdaq” on November 26, 2018, also Nasdaq.com with their article: “Product Expansion to Aid Applied Materials (AMAT) Q4 Earnings – Nasdaq” published on November 12, 2018, Benzinga.com published: “Earnings Scheduled For November 28, 2018 – Benzinga” on November 28, 2018. More interesting news about Semtech Corporation (NASDAQ:SMTC) were released by: Nasdaq.com and their article: “Semtech (SMTC) Q3 Earnings and Revenues Beat Estimates – Nasdaq” published on November 28, 2018 as well as Benzinga.com‘s news article titled: “32 Stocks Moving In Thursday’s Mid-Day Session – Benzinga” with publication date: November 29, 2018.

Semtech Corporation (NASDAQ:SMTC) Institutional Positions Chart

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