Semtech (NASDAQ:SMTC) PT Raised to $36.00 at Stifel Nicolaus

Semtech (NASDAQ:SMTC) had its price objective upped by equities researchers at Stifel Nicolaus from $31.00 to $36.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 10.97% from the stock’s previous close.

A number of other research firms have also recently weighed in on SMTC. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price target (up from $30.00) on shares of Semtech in a report on Monday, April 1st. Susquehanna lifted their target price on Semtech from $30.00 to $45.00 and gave the company a “positive” rating in a research note on Monday, April 1st. Craig Hallum lifted their target price on Semtech from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Robert W. Baird lifted their target price on Semtech from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Finally, Northland Securities lifted their target price on Semtech from $30.00 to $36.50 and gave the company an “outperform” rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Semtech has an average rating of “Moderate Buy” and an average target price of $39.85.

Semtech Price Performance

SMTC stock traded down $0.42 during midday trading on Thursday, reaching $32.44. 1,558,486 shares of the company’s stock traded hands, compared to its average volume of 1,917,439. The company has a 50-day simple moving average of $24.84 and a two-hundred day simple moving average of $21.12. Semtech has a 1-year low of $13.13 and a 1-year high of $35.80. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -1.91 and a beta of 1.85. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 4.11.

Insiders Place Their Bets

In other Semtech news, CFO Mark Lin bought 1,000 shares of Semtech stock in a transaction on Monday, April 8th. The shares were purchased at an average cost of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at approximately $33,230. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Semtech

A number of institutional investors have recently modified their holdings of SMTC. Neo Ivy Capital Management bought a new stake in shares of Semtech in the second quarter valued at about $41,000. GAMMA Investing LLC lifted its holdings in shares of Semtech by 83.9% in the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 773 shares in the last quarter. Quarry LP bought a new stake in shares of Semtech in the first quarter valued at about $49,000. Versant Capital Management Inc lifted 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 in the last quarter. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Semtech in the fourth quarter valued at about $63,000.

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.