Northland Securities Increases Semtech (NASDAQ:SMTC) Price Target to $36.50

Semtech (NASDAQ:SMTC) had its price target lifted by equities researchers at Northland Securities from $30.00 to $36.50 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ price objective would suggest a potential upside of 24.79% from the stock’s current price.

A number of other analysts also recently commented on the company. Roth Mkm lowered their target price on Semtech from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, December 7th. Susquehanna boosted their price objective on Semtech from $30.00 to $45.00 and gave the company a “positive” rating in a research report on Monday. Needham & Company LLC increased their target price on Semtech from $26.00 to $38.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler reissued an “overweight” rating and issued a $40.00 price target (up previously from $30.00) on shares of Semtech in a report on Monday. Finally, Robert W. Baird upped 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Semtech presently has an average rating of “Moderate Buy” and a consensus target price of $39.35.

Semtech Stock Performance

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

Hedge Funds Weigh In On Semtech

Institutional investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management acquired a new stake in Semtech during the second quarter worth about $41,000. Captrust Financial Advisors raised its position in Semtech by 186.5% in the first quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 664 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Semtech in the first quarter valued at $84,000. Covestor Ltd grew its holdings in shares of Semtech by 123.9% during the 1st quarter. Covestor Ltd now owns 1,397 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 773 shares during the period. Finally, Quarry LP purchased a new position in shares of Semtech during the 1st quarter worth $49,000.

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.