Semtech (NASDAQ:SMTC) Price Target Raised to $36.00

Semtech (NASDAQ:SMTC) had its price target lifted by Stifel Nicolaus from $31.00 to $36.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 15.94% from the company’s previous close.

Several other research analysts have also recently commented on SMTC. Susquehanna increased their target price on shares of Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a report on Monday, April 1st. Northland Securities increased their target price on shares of Semtech from $30.00 to $36.50 and gave the stock an “outperform” rating in a report on Monday, April 1st. Robert W. Baird increased their target price on shares of Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Needham & Company LLC increased their target price on shares of Semtech from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Craig Hallum increased their target price on shares of Semtech from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and a consensus target price of $39.85.

Semtech Stock Performance

Shares of SMTC opened at $31.05 on Thursday. Semtech has a 12 month low of $13.13 and a 12 month high of $35.80. The firm has a fifty day simple moving average of $25.28 and a 200 day simple moving average of $21.24. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -1.83 and a beta of 1.85. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11.

Insider Buying and Selling at Semtech

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

Hedge Funds Weigh In On Semtech

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in Semtech by 29.7% during the first quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock worth $291,861,000 after acquiring an additional 2,769,314 shares during the period. Vanguard Group Inc. increased its position in Semtech by 2.4% during the third quarter. Vanguard Group Inc. now owns 6,576,015 shares of the semiconductor company’s stock worth $193,401,000 after acquiring an additional 151,730 shares during the period. State Street Corp increased its position in Semtech by 16.1% during the second quarter. State Street Corp now owns 4,382,903 shares of the semiconductor company’s stock worth $111,589,000 after acquiring an additional 606,593 shares during the period. Ameriprise Financial Inc. increased its position in Semtech by 58.9% during the third quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock worth $101,927,000 after acquiring an additional 1,466,665 shares during the period. Finally, Macquarie Group Ltd. grew its stake in Semtech by 49.6% during the first quarter. Macquarie Group Ltd. now owns 2,180,522 shares of the semiconductor company’s stock worth $52,638,000 after buying an additional 722,908 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.