Robert W. Baird Raises Semtech (NASDAQ:SMTC) Price Target to $50.00

Semtech (NASDAQ:SMTC) had its target price increased by research analysts at Robert W. Baird from $40.00 to $50.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Robert W. Baird’s price target points to a potential upside of 70.07% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Susquehanna lifted their price objective on shares of Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a research report on Monday. Needham & Company LLC lifted their price objective on shares of Semtech from $26.00 to $38.00 and gave the company a “buy” rating in a research note on Monday. Roth Mkm decreased their target price on shares of Semtech from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, December 7th. Stifel Nicolaus boosted their target price on shares of Semtech from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Craig Hallum boosted their target price on shares of Semtech from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.90.

Semtech Stock Up 6.9 %

NASDAQ SMTC traded up $1.91 during trading on Monday, reaching $29.40. 5,961,045 shares of the company’s stock traded hands, compared to its average volume of 1,403,438. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.39 and a quick ratio of 1.72. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -1.70, a price-to-earnings-growth ratio of 16.04 and a beta of 1.85. The company’s 50 day simple moving average is $21.76 and its two-hundred day simple moving average is $20.45. Semtech has a 12-month low of $13.13 and a 12-month high of $30.84.

Hedge Funds Weigh In On Semtech

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ethic Inc. boosted its holdings in Semtech by 7.6% in the 1st quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock valued at $315,000 after purchasing an additional 320 shares during the last quarter. Zebra Capital Management LLC boosted its holdings in Semtech by 10.5% in the 1st quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 327 shares during the last quarter. Credit Suisse AG boosted its holdings in Semtech by 0.6% in the 4th quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company’s stock valued at $1,773,000 after purchasing an additional 347 shares during the last quarter. Bridgefront Capital LLC lifted its holdings in shares of Semtech by 14.7% in the 1st quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company’s stock worth $204,000 after acquiring an additional 377 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Semtech by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company’s stock worth $660,000 after acquiring an additional 399 shares during the last quarter.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.