Semtech Co. (NASDAQ:SMTC) Receives $39.35 Consensus Price Target from Brokerages

Semtech Co. (NASDAQ:SMTC) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $39.35.

Several research firms have recently weighed in on SMTC. Susquehanna upped their target price on shares of Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a report on Monday, April 1st. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price objective (up from $30.00) on shares of Semtech in a research note on Monday, April 1st. Craig Hallum lifted their target price on shares of Semtech from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Stifel Nicolaus increased their price target on Semtech from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Northland Securities increased their price objective on shares of Semtech from $30.00 to $36.50 and gave the stock an “outperform” rating in a report on Monday, April 1st.

Insider Transactions at Semtech

In other news, CFO Mark Lin purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were acquired at an average cost of $33.23 per share, for a total transaction of $33,230.00. Following the transaction, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $33,230. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Semtech

A number of large investors have recently made changes to their positions in SMTC. Farther Finance Advisors LLC increased its holdings in shares of Semtech by 50.0% in the second quarter. Farther Finance Advisors LLC now owns 4,500 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 1,500 shares in the last quarter. Legato Capital Management LLC bought a new stake in Semtech during the 4th quarter worth approximately $201,000. Fuller & Thaler Asset Management Inc. raised its holdings in Semtech by 8.8% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 552,115 shares of the semiconductor company’s stock worth $14,217,000 after buying an additional 44,512 shares during the period. SG Americas Securities LLC bought a new position in Semtech in the fourth quarter valued at approximately $164,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Semtech by 76.7% in the third quarter. New York State Common Retirement Fund now owns 468,166 shares of the semiconductor company’s stock valued at $12,055,000 after buying an additional 203,182 shares during the period.

Semtech Stock Performance

Shares of NASDAQ:SMTC opened at $32.86 on Friday. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.46 and a quick ratio of 1.79. The business’s fifty day moving average price is $24.84 and its two-hundred day moving average price is $21.12. Semtech has a fifty-two week low of $13.13 and a fifty-two week high of $35.80. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -1.93 and a beta of 1.85.

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.