Semtech (NASDAQ:SMTC) Earns Market Perform Rating from Oppenheimer

Oppenheimer restated their market perform rating on shares of Semtech (NASDAQ:SMTC) in a research note released on Monday, Benzinga reports.

A number of other equities analysts also recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Semtech from $22.00 to $26.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. Roth Mkm dropped their price target on Semtech from $46.00 to $42.00 and set a buy rating on the stock in a research report on Thursday, December 7th. Piper Sandler reiterated an overweight rating and issued a $40.00 price objective (up previously from $30.00) on shares of Semtech in a report on Monday. Craig Hallum increased their price target on shares of Semtech from $30.00 to $36.00 and gave the stock a buy rating in a research note on Monday. Finally, Robert W. Baird reaffirmed an outperform rating and set a $40.00 target price on shares of Semtech in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $39.35.

Semtech Price Performance

NASDAQ:SMTC opened at $33.06 on Monday. The stock has a fifty day moving average of $22.45 and a 200 day moving average of $20.66. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -1.94, a P/E/G ratio of 12.33 and a beta of 1.85. Semtech has a 52-week low of $13.13 and a 52-week high of $35.29. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.72 and a current ratio of 2.46.

Institutional Investors Weigh In On Semtech

Several institutional investors have recently bought and sold shares of SMTC. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Semtech in the 1st quarter valued at $248,000. Bank of Montreal Can lifted its stake in Semtech by 24.8% in the 1st quarter. Bank of Montreal Can now owns 5,486 shares of the semiconductor company’s stock valued at $397,000 after buying an additional 1,089 shares in the last quarter. Rhumbline Advisers grew its position in shares of Semtech by 2.2% in the first quarter. Rhumbline Advisers now owns 180,638 shares of the semiconductor company’s stock valued at $12,525,000 after purchasing an additional 3,874 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Semtech by 10.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,975 shares of the semiconductor company’s stock worth $1,662,000 after purchasing an additional 2,265 shares during the period. Finally, BlackRock Inc. grew its stake in Semtech by 3.7% during the first quarter. BlackRock Inc. now owns 7,160,578 shares of the semiconductor company’s stock worth $496,515,000 after buying an additional 257,224 shares during the period.

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.