Semtech Co. (NASDAQ:SMTC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Semtech Co. (NASDAQ:SMTC) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $39.35.

Several brokerages recently issued reports on SMTC. 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 report on Monday, April 1st. Piper Sandler reiterated an “overweight” rating and issued a $40.00 target price (up previously from $30.00) on shares of Semtech in a research note on Monday, April 1st. Oppenheimer reiterated a “market perform” rating on shares of Semtech in a report on Monday, April 1st. Susquehanna boosted their price target on shares of Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a report on Monday, April 1st. Finally, Northland Securities increased their price objective on shares of Semtech from $30.00 to $36.50 and gave the company an “outperform” rating in a research note on Monday, April 1st.

Insiders Place Their Bets

In related news, CFO Mark Lin purchased 1,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were bought at an average price of $33.23 per share, with a total value of $33,230.00. Following the acquisition, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $33,230. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Institutional Trading of Semtech

A number of large investors have recently bought and sold shares of SMTC. Ethic Inc. increased its stake in shares of Semtech by 7.6% in the first quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock worth $315,000 after purchasing an additional 320 shares in the last quarter. Zebra Capital Management LLC boosted 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 during the period. Credit Suisse AG grew its stake in Semtech by 0.6% in the 4th quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company’s stock valued at $1,773,000 after buying an additional 347 shares in the last quarter. Bridgefront Capital LLC raised its holdings in Semtech by 14.7% during the 1st quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company’s stock valued at $204,000 after acquiring an additional 377 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Semtech by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company’s stock worth $660,000 after acquiring an additional 399 shares in the last quarter.

Semtech Stock Performance

Shares of SMTC opened at $32.64 on Friday. The firm has a market capitalization of $2.11 billion, a P/E ratio of -1.92 and a beta of 1.85. Semtech has a 52 week low of $13.13 and a 52 week high of $35.80. The stock has a 50 day moving average price of $24.05 and a two-hundred day moving average price of $21.01. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.79 and a current ratio of 2.46.

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.