Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Semtech Corporation (NASDAQ: SMTC) posted a loss for the fourth quarter on Thursday.
Semtech posted adjusted loss of 6 cents per share, versus market estimates for a loss of 3 cents per share. The company’s quarterly sales came in at $192.95 million, compared to expectations of $196.46 million, according to data from Benzinga Pro.
"End market demand for our semiconductor business has progressed from stable to growing," said Paul H. Pickle, Semtech's president and chief executive officer. "While our hardware business remains constrained, we believe Semtech is well-positioned to benefit from near-term growth trends, particularly in our infrastructure end market."
Semtech shares gained 6.6% to trade at $29.32 on Monday.
These analysts made changes to their price targets on Semtech following earnings announcement.
- Needham raised the price target on Semtech from $26 to $38. Needham analyst Quinn Bolton maintained a Buy rating.
- Susquehanna boosted the price target on Semtech from $30 to $45. Susquehanna analyst Christopher Rolland maintained a Positive rating.
- Piper Sandler increased the price target on Semtech from $30 to $40. Piper Sandler analyst Harsh Kumar reiterated an Overweight rating.
- Stifel raised the price target on Semtech from $26 to $31. Stifel analyst Tore Svanberg maintained a Buy rating.
- Baird boosted the price target on Semtech from $40 to $50. Baird analyst Craig Ellis maintained an Outperform rating.
- Craig-Hallum increased the price target on Semtech from $30 to $36. Craig-Hallum analyst Anthony Stoss maintained a Buy rating.
- Northland Capital Markets increased the price target on Semtech from $30 to $36.5. Northland Capital Markets analyst Gus Richard maintained an Outperform rating.
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Latest Ratings for SMTC
| Nov 2021 | B. Riley Securities | Maintains | Buy | |
| Nov 2021 | Oppenheimer | Maintains | Outperform | |
| Sep 2021 | Oppenheimer | Maintains | Outperform |
View the Latest Analyst Ratings
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