Semtech (NASDAQ:SMTC) Rating Reiterated by Piper Sandler

Semtech (NASDAQ:SMTC)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a report issued on Monday, Benzinga reports. They presently have a $40.00 price target on the semiconductor company’s stock, up from their prior price target of $30.00. Piper Sandler’s price objective suggests a potential upside of 33.96% from the company’s current price.

Several other research firms have also recently weighed in on SMTC. Robert W. Baird reissued an “outperform” rating and set a $40.00 price objective on shares of Semtech in a research report on Tuesday, March 26th. Stifel Nicolaus upped their price target on Semtech from $22.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Susquehanna upped their price target on Semtech from $25.00 to $30.00 and gave the company a “positive” rating in a 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. Finally, Needham & Company LLC upped their price target on Semtech from $26.00 to $38.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.40.

Semtech Stock Performance

Shares of NASDAQ SMTC traded up $2.37 during trading hours on Monday, hitting $29.86. 2,676,192 shares of the company’s stock were exchanged, compared to its average volume of 1,342,567. Semtech has a 1-year low of $13.13 and a 1-year high of $30.84. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.39 and a quick ratio of 1.72. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -1.78, a PEG ratio of 16.04 and a beta of 1.85. The company’s 50-day moving average price is $21.76 and its 200-day moving average price is $20.45.

Institutional Investors Weigh In On Semtech

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ethic Inc. increased its stake in shares of Semtech by 7.6% in the 1st quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock valued at $315,000 after buying an additional 320 shares during the period. Zebra Capital Management LLC increased its stake in shares of Semtech by 10.5% in the 1st quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 327 shares during the period. Credit Suisse AG grew its stake in shares of Semtech by 0.6% during the fourth quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company’s stock worth $1,773,000 after purchasing an additional 347 shares during the period. Bridgefront Capital LLC grew its stake in shares of Semtech by 14.7% during the first quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 377 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Semtech by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company’s stock worth $660,000 after purchasing an additional 399 shares during the period.

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.