Semtech (NASDAQ:SMTC) Price Target Raised to $36.50

Semtech (NASDAQ:SMTC) had its target price upped by Northland Securities from $30.00 to $36.50 in a research report report published on Monday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Several other analysts have also recently commented on SMTC. Oppenheimer reaffirmed a market perform rating on shares of Semtech in a research note on Monday. Needham & Company LLC lifted their target price on shares of Semtech from $26.00 to $38.00 and gave the stock a buy rating in a research note on Monday. Piper Sandler reissued an overweight rating and set a $40.00 price objective (up from $30.00) on shares of Semtech in a research note on Monday. Craig Hallum boosted their price objective on shares of Semtech from $30.00 to $36.00 and gave the company a buy rating in a research note on Monday. Finally, Robert W. Baird boosted their price objective on shares of Semtech from $40.00 to $50.00 and gave the company an outperform rating in a research note on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Semtech has a consensus rating of Moderate Buy and an average target price of $39.35.

Semtech Stock Up 5.0 %

SMTC stock opened at $33.06 on Monday. The stock has a market capitalization of $2.13 billion, a P/E ratio of -1.94, a PEG ratio of 12.33 and a beta of 1.85. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.72 and a current ratio of 2.46. Semtech has a one year low of $13.13 and a one year high of $35.29. The company has a 50 day moving average price of $22.45 and a two-hundred day moving average price of $20.66.

Institutional Trading of Semtech

Institutional investors have recently added to or reduced their stakes in the business. Ethic Inc. lifted its holdings in Semtech by 7.6% in the 1st quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock worth $315,000 after buying an additional 320 shares in the last quarter. Zebra Capital Management LLC lifted its holdings in Semtech by 10.5% in the 1st quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock worth $240,000 after buying an additional 327 shares in the last quarter. Credit Suisse AG lifted its holdings in Semtech by 0.6% in the 4th quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company’s stock worth $1,773,000 after buying an additional 347 shares in the last quarter. Bridgefront Capital LLC lifted its holdings in Semtech by 14.7% in the 1st quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company’s stock worth $204,000 after buying an additional 377 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Semtech by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company’s stock worth $660,000 after buying an additional 399 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.