Robert W. Baird Reaffirms Outperform Rating for Semtech (NASDAQ:SMTC)

Robert W. Baird reaffirmed their outperform rating on shares of Semtech (NASDAQ:SMTC) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $40.00 price target on the semiconductor company’s stock.

Several other research firms have also recently weighed in on SMTC. Susquehanna increased their price objective on Semtech from $25.00 to $30.00 and gave the company a positive rating in a research report on Thursday, March 14th. Roth Mkm cut their price target on Semtech from $46.00 to $42.00 and set a buy rating for the company in a report on Thursday, December 7th. Stifel Nicolaus upped their price objective on Semtech from $22.00 to $26.00 and gave the stock a buy rating in a report on Tuesday, January 2nd. Finally, Needham & Company LLC reduced their target price on shares of Semtech from $35.00 to $26.00 and set a buy rating on the stock in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $33.10.

Semtech Trading Down 1.3 %

Shares of NASDAQ:SMTC opened at $27.49 on Tuesday. Semtech has a 12-month low of $13.13 and a 12-month high of $32.44. The firm has a fifty day moving average of $21.76 and a two-hundred day moving average of $20.48. The company has a quick ratio of 1.72, a current ratio of 2.39 and a debt-to-equity ratio of 4.11. The firm has a market capitalization of $1.77 billion, a P/E ratio of -3.51, a price-to-earnings-growth ratio of 16.25 and a beta of 1.81.

Institutional Investors Weigh In On Semtech

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Semtech by 29.7% during the 1st 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 during the period. Kodai Capital Management LP acquired a new stake in shares of Semtech during the fourth quarter worth $43,504,000. Ameriprise Financial Inc. lifted its position in Semtech by 58.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock valued at $101,927,000 after acquiring an additional 1,466,665 shares in the last quarter. Point72 Asset Management L.P. boosted 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 during the period. Finally, Nuveen Asset Management LLC increased its holdings in Semtech by 374.2% during 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.

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.