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

Semtech Co. (NASDAQ:SMTC) has earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $39.85.

Several research analysts have recently weighed in on SMTC shares. 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 report on Monday, April 1st. 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. Needham & Company LLC increased their target price on shares of Semtech from $26.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Stifel Nicolaus increased their target price on shares of Semtech from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Craig Hallum increased their target price on shares of Semtech from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, April 1st.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin acquired 1,000 shares of the stock in a transaction on Monday, April 8th. The stock was bought at an average price of $33.23 per share, with a total value of $33,230.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Semtech

A number of hedge funds have recently made changes to their positions in SMTC. BlackRock Inc. grew its position in shares of Semtech by 29.7% during the first quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock worth $291,861,000 after buying an additional 2,769,314 shares in the last quarter. Kodai Capital Management LP acquired a new stake in shares of Semtech during the fourth quarter worth approximately $43,504,000. Ameriprise Financial Inc. grew its position in shares of Semtech by 58.9% during the third quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock worth $101,927,000 after buying an additional 1,466,665 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Semtech by 1,084.1% during the second quarter. Point72 Asset Management L.P. now owns 999,400 shares of the semiconductor company’s stock worth $25,445,000 after buying an additional 915,000 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Semtech by 374.2% during the fourth quarter. Nuveen Asset Management LLC now owns 1,148,681 shares of the semiconductor company’s stock worth $25,168,000 after buying an additional 906,430 shares in the last quarter.

Semtech Price Performance

NASDAQ:SMTC opened at $31.05 on Friday. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -1.83 and a beta of 1.85. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11. The company’s 50-day moving average is $25.28 and its two-hundred day moving average is $21.24. Semtech has a 12-month low of $13.13 and a 12-month high of $35.80.

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.