Semtech (NASDAQ:SMTC) Price Target Increased to $36.50 by Analysts at Northland Securities

Semtech (NASDAQ:SMTC) had its price objective raised by Northland Securities from $30.00 to $36.50 in a research report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ price objective points to a potential upside of 24.79% from the stock’s previous close.

Other analysts also recently issued reports about the company. Oppenheimer restated a “market perform” rating on shares of Semtech in a report on Monday. Stifel Nicolaus raised their price objective on Semtech from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday. Susquehanna boosted their price target on shares of Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a research report on Monday. Robert W. Baird increased their price objective on shares of Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Craig Hallum boosted their price target on Semtech from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.35.

Semtech Trading Up 6.4 %

Shares of NASDAQ:SMTC traded up $1.76 during midday trading on Monday, hitting $29.25. 6,271,932 shares of the stock were exchanged, compared to its average volume of 1,409,889. The business’s 50-day moving average price is $21.76 and its 200 day moving average price is $20.45. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -1.72, a P/E/G ratio of 16.04 and a beta of 1.85. Semtech has a 12 month low of $13.13 and a 12 month high of $30.84. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.72 and a current ratio of 2.39.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SMTC. Neo Ivy Capital Management bought a new position in Semtech during the 2nd quarter valued at $41,000. Quarry LP purchased a new position in Semtech during the first quarter worth about $49,000. Cape Investment Advisory Inc. bought a new stake in Semtech in the 4th quarter worth about $63,000. Captrust Financial Advisors lifted its position in shares of Semtech by 186.5% during the 1st quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock worth $71,000 after buying an additional 664 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Semtech by 35.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,781 shares of the semiconductor company’s stock worth $72,000 after buying an additional 726 shares during the last quarter.

About Semtech

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.