Semtech (NASDAQ:SMTC) Price Target Increased to $50.00 by Analysts at Stifel Nicolaus

Semtech (NASDAQ:SMTCFree Report) had its price objective boosted by Stifel Nicolaus from $43.00 to $50.00 in a research note published on Thursday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on SMTC. Northland Securities raised their price objective on shares of Semtech from $36.50 to $46.00 and gave the company an outperform rating in a research note on Thursday. Susquehanna lifted their price target on Semtech from $45.00 to $55.00 and gave the company a positive rating in a research note on Thursday. Craig Hallum increased their price objective on Semtech from $36.00 to $48.00 and gave the stock a buy rating in a research note on Thursday. Piper Sandler restated an overweight rating and issued a $60.00 target price (up previously from $40.00) on shares of Semtech in a report on Wednesday, May 29th. Finally, Oppenheimer reiterated a market perform rating on shares of Semtech in a report on Monday, April 1st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Semtech presently has an average rating of Moderate Buy and an average target price of $48.90.

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Semtech Trading Down 1.8 %

Shares of Semtech stock opened at $37.98 on Thursday. The company’s 50 day moving average price is $36.41 and its two-hundred day moving average price is $26.14. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.79 and a current ratio of 2.46. Semtech has a fifty-two week low of $13.13 and a fifty-two week high of $46.86.

Semtech (NASDAQ:SMTCGet Free Report) last announced its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). Semtech had a negative net margin of 129.52% and a negative return on equity of 23.92%. The firm had revenue of $192.95 million during the quarter, compared to analyst estimates of $191.24 million. On average, equities analysts anticipate that Semtech will post -0.08 earnings per share for the current year.

Insider Activity

In related news, CFO Mark Lin purchased 1,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $33,230. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMTC. Fidelis Capital Partners LLC bought a new stake in shares of Semtech in the 1st quarter worth approximately $27,000. GAMMA Investing LLC raised its stake 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 buying an additional 773 shares during the period. Versant Capital Management Inc raised its stake 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 buying an additional 1,259 shares during the period. Cape Investment Advisory Inc. bought a new position in shares of Semtech during the 4th quarter worth $63,000. Finally, Tower Research Capital LLC TRC increased its holdings in Semtech by 67.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,652 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 1,871 shares during the last quarter.

About Semtech

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Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor 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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