Semtech (NASDAQ:SMTC) Given New $38.00 Price Target at Needham & Company LLC

Semtech (NASDAQ:SMTCFree Report) had its price target boosted by Needham & Company LLC from $26.00 to $38.00 in a report issued on Monday, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

SMTC has been the subject of a number of other research reports. Roth Mkm lowered 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. Stifel Nicolaus boosted 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 boosted 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. Finally, Robert W. Baird reiterated an outperform rating and issued a $40.00 price target on shares of Semtech in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $39.35.

Check Out Our Latest Analysis on SMTC

Semtech Stock Up 6.8 %

Shares of NASDAQ:SMTC opened at $29.37 on Monday. Semtech has a 1 year low of $13.13 and a 1 year high of $30.84. The business has a 50 day simple moving average of $21.90 and a two-hundred day simple moving average of $20.48. The firm has a market capitalization of $1.89 billion, a PE ratio of -1.73, a price-to-earnings-growth ratio of 16.04 and a beta of 1.85. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.39 and a quick ratio of 1.72.

Hedge Funds Weigh In On Semtech

A number of large investors have recently made changes to their positions in the business. Neo Ivy Capital Management purchased a new stake in shares of Semtech during the second quarter valued at $41,000. Quarry LP purchased a new stake in shares of Semtech during the first quarter valued at $49,000. Cape Investment Advisory Inc. purchased a new stake in shares of Semtech during the fourth quarter valued at $63,000. Captrust Financial Advisors grew its holdings in shares of Semtech by 186.5% during the first quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 664 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Semtech by 35.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,781 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 726 shares during the last quarter.

Semtech Company Profile

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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.

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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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