Brokerages Set Semtech Corporation (NASDAQ:SMTC) Price Target at $65.36

Shares of Semtech Corporation (NASDAQ:SMTC) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $65.3571.

Several research analysts have recently commented on the stock. TD Cowen assumed coverage on shares of Semtech in a report on Wednesday, October 1st. They issued a “buy” rating and a $75.00 price target for the company. Benchmark lifted their price target on shares of Semtech from $68.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Stifel Nicolaus set a $80.00 price target on shares of Semtech in a report on Wednesday, October 1st. Piper Sandler lifted their price target on shares of Semtech from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Semtech in a report on Wednesday, October 8th.

Insider Transactions at Semtech

In other Semtech news, CFO Mark Lin sold 971 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $72.83, for a total transaction of $70,717.93. Following the completion of the transaction, the chief financial officer directly owned 17,844 shares of the company’s stock, valued at $1,299,578.52. The trade was a 5.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martin Burvill sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total transaction of $219,625.00. Following the transaction, the director directly owned 6,909 shares of the company’s stock, valued at $433,539.75. The trade was a 33.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SMTC. Bessemer Group Inc. boosted its stake in Semtech by 78.4% during the 2nd quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 287 shares during the period. Ameritas Advisory Services LLC acquired a new position in Semtech during the 2nd quarter valued at about $33,000. Smartleaf Asset Management LLC boosted its stake in Semtech by 33.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 257 shares during the period. Archer Investment Corp bought a new stake in shares of Semtech during the 1st quarter worth about $64,000. Finally, Strs Ohio bought a new stake in shares of Semtech during the 1st quarter worth about $65,000.

Semtech Price Performance

Shares of SMTC stock opened at $67.78 on Wednesday. The firm has a market cap of $5.88 billion, a P/E ratio of 282.42 and a beta of 2.01. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.53 and a quick ratio of 1.78. Semtech has a 1-year low of $24.05 and a 1-year high of $79.52. The firm has a fifty day moving average of $60.89 and a two-hundred day moving average of $47.00.

About Semtech

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.