Insider Buying: Semtech Co. (NASDAQ:SMTC) CFO Buys 1,000 Shares of Stock

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was purchased at an average cost of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the purchase, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at $33,230. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Semtech Stock Up 4.1 %

SMTC stock traded up $1.32 during trading on Monday, reaching $33.86. The stock had a trading volume of 5,828,240 shares, compared to its average volume of 1,709,343. Semtech Co. has a one year low of $13.13 and a one year high of $35.80. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 4.11. The company’s 50 day moving average is $22.69 and its two-hundred day moving average is $20.65. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -2.04 and a beta of 1.85.

Institutional Investors Weigh In On Semtech

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Semtech by 29.7% during the 1st quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock valued at $291,861,000 after buying an additional 2,769,314 shares in the last quarter. Kodai Capital Management LP purchased a new stake in shares of Semtech during the 4th quarter valued at approximately $43,504,000. Ameriprise Financial Inc. lifted its stake in Semtech by 58.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock worth $101,927,000 after purchasing an additional 1,466,665 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Semtech by 1,084.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 999,400 shares of the semiconductor company’s stock worth $25,445,000 after purchasing an additional 915,000 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Semtech by 374.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,148,681 shares of the semiconductor company’s stock worth $25,168,000 after purchasing an additional 906,430 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SMTC shares. Stifel Nicolaus lifted their price objective on shares of Semtech from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Oppenheimer reissued a “market perform” rating on shares of Semtech in a research note on Monday, April 1st. Piper Sandler reissued an “overweight” rating and issued a $40.00 price objective (up from $30.00) on shares of Semtech in a research note on Monday, April 1st. Susquehanna lifted their price objective on shares of Semtech from $30.00 to $45.00 and gave the company a “positive” rating in a research note on Monday, April 1st. Finally, Northland Securities boosted their target price on shares of Semtech from $30.00 to $36.50 and gave the stock an “outperform” rating in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and a consensus price target of $39.35.

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.