Semtech (NASDAQ:SMTC) Price Target Raised to $50.00 at Robert W. Baird

Semtech (NASDAQ:SMTC) had its target price raised by Robert W. Baird from $40.00 to $50.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Several other brokerages have also recently weighed in on SMTC. Oppenheimer reissued a market perform rating on shares of Semtech in a research note on Monday. Roth Mkm reduced their price objective on Semtech from $46.00 to $42.00 and set a buy rating on the stock in a research note on Thursday, December 7th. Susquehanna boosted their price objective on Semtech from $30.00 to $45.00 and gave the stock a positive rating in a research note on Monday. Craig Hallum boosted their price objective on Semtech from $30.00 to $36.00 and gave the stock a buy rating in a research note on Monday. Finally, Piper Sandler reaffirmed an overweight rating and set a $40.00 target price (up previously from $30.00) on shares of Semtech in a research note on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $39.35.

Semtech Trading Up 11.7 %

Shares of NASDAQ SMTC opened at $31.48 on Monday. The business’s 50 day moving average is $22.21 and its two-hundred day moving average is $20.57. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.46 and a quick ratio of 1.72. Semtech has a 1-year low of $13.13 and a 1-year high of $32.23. The stock has a market capitalization of $2.02 billion, a P/E ratio of -1.85, a PEG ratio of 17.13 and a beta of 1.85.

Institutional Trading of Semtech

A number of large investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of Semtech by 205.0% in the first quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 1,259 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Semtech by 19.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,217,670 shares of the semiconductor company’s stock valued at $26,679,000 after purchasing an additional 197,595 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Semtech by 431.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 827,582 shares of the semiconductor company’s stock valued at $18,133,000 after purchasing an additional 671,885 shares during the period. Contour Asset Management LLC boosted its holdings in shares of Semtech by 2.6% in the fourth quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock valued at $32,072,000 after purchasing an additional 36,838 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Semtech in the fourth quarter valued at approximately $546,000.

About Semtech

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.