Weiss Ratings Reiterates Sell (D) Rating for Semtech (NASDAQ:SMTC)

Semtech (NASDAQ:SMTC)‘s stock had its “sell (d)” rating restated by research analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

Other analysts also recently issued reports about the stock. Piper Sandler upped their target price on shares of Semtech from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Oppenheimer raised shares of Semtech from a “market perform” rating to an “outperform” rating and set a $81.00 target price on the stock in a research report on Tuesday, September 30th. Benchmark upped their target price on shares of Semtech from $68.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Stifel Nicolaus set a $80.00 target price on shares of Semtech in a research report on Wednesday, October 1st. Finally, Needham & Company LLC upped their target price on shares of Semtech from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.36.

Semtech Trading Down 1.3%

NASDAQ:SMTC opened at $67.79 on Friday. The company has a fifty day moving average of $62.55 and a 200 day moving average of $48.59. Semtech has a 52 week low of $24.05 and a 52 week high of $79.52. The company has a quick ratio of 1.78, a current ratio of 2.53 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $5.88 billion, a P/E ratio of 282.46 and a beta of 2.01.

Insider Activity at Semtech

In related news, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.24, for a total transaction of $33,120.00. Following the sale, the director directly owned 26,779 shares of the company’s stock, valued at approximately $1,773,840.96. This represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martin Burvill sold 3,500 shares of the 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 sale, the director directly owned 6,909 shares in the company, valued at $433,539.75. This trade represents a 33.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,971 shares of company stock valued at $323,463. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Semtech

Several hedge funds and other institutional investors have recently bought and sold shares of SMTC. KBC Group NV lifted its stake in Semtech by 16.8% during the 1st quarter. KBC Group NV now owns 4,084 shares of the semiconductor company’s stock valued at $140,000 after acquiring an additional 586 shares during the period. Teacher Retirement System of Texas bought a new position in Semtech during the 1st quarter valued at about $430,000. Principal Financial Group Inc. lifted its stake in Semtech by 4.2% during the 1st quarter. Principal Financial Group Inc. now owns 427,958 shares of the semiconductor company’s stock valued at $14,722,000 after acquiring an additional 17,345 shares during the period. Moody Aldrich Partners LLC lifted its stake in Semtech by 75.6% during the 1st quarter. Moody Aldrich Partners LLC now owns 98,904 shares of the semiconductor company’s stock valued at $3,402,000 after acquiring an additional 42,587 shares during the period. Finally, CWM LLC lifted its stake in Semtech by 23.3% during the 1st quarter. CWM LLC now owns 3,751 shares of the semiconductor company’s stock valued at $129,000 after acquiring an additional 709 shares during the period.

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.