Semtech Co. (NASDAQ:SMTC) Receives $67.91 Consensus Target Price from Analysts

Shares of Semtech Co. (NASDAQ:SMTC) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $67.91.

A number of research firms recently weighed in on SMTC. Craig Hallum upped their target price on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Susquehanna upped their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Stifel Nicolaus cut their target price on shares of Semtech from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Robert W. Baird cut their target price on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, B. Riley upped their price target on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 26th.

Insider Buying and Selling

In related news, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,417 shares of the company’s stock, valued at $5,349,190. This trade represents a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the sale, the senior vice president now directly owns 14 shares of the company’s stock, valued at approximately $1,050. This represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,637 shares of company stock valued at $1,472,726 over the last three months. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Semtech by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock worth $713,906,000 after acquiring an additional 1,326,226 shares in the last quarter. Hood River Capital Management LLC raised its position in Semtech by 1.8% in the fourth quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company’s stock worth $213,385,000 after acquiring an additional 59,743 shares in the last quarter. Whale Rock Capital Management LLC raised its position in Semtech by 364.2% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company’s stock worth $202,015,000 after acquiring an additional 2,562,602 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in Semtech by 4.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after acquiring an additional 114,999 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Semtech by 827.0% in the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock worth $132,550,000 after acquiring an additional 1,911,890 shares in the last quarter.

Semtech Stock Performance

SMTC stock opened at $33.50 on Tuesday. The company’s 50 day moving average price is $54.60 and its 200 day moving average price is $51.32. Semtech has a fifty-two week low of $21.56 and a fifty-two week high of $79.52. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -2.57, a PEG ratio of 2.12 and a beta of 1.69.

Semtech Company Profile

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