Semtech (NASDAQ:SMTC) Now Covered by TD Cowen

TD Cowen started coverage on shares of Semtech (NASDAQ:SMTC) in a research report released on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $75.00 price target on the semiconductor company’s stock.

Several other research firms have also recently weighed in on SMTC. Stifel Nicolaus increased their price target on shares of Semtech from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Needham & Company LLC increased their price target on shares of Semtech from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Piper Sandler increased their price target on shares of Semtech from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Northland Securities increased their price target on shares of Semtech from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, August 26th. Finally, Craig Hallum increased their price target on shares of Semtech from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.36.

Semtech Stock Performance

Semtech stock opened at $71.68 on Wednesday. The firm has a 50 day simple moving average of $56.69 and a 200-day simple moving average of $44.42. Semtech has a 1-year low of $24.05 and a 1-year high of $79.52. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.53 and a quick ratio of 1.78. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 298.67 and a beta of 2.01.

Insider Transactions at Semtech

In other Semtech news, Director Martin Burvill sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total transaction of $219,625.00. Following the sale, the director directly owned 6,909 shares in the company, valued at $433,539.75. This represents a 33.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Semtech

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Semtech by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 11,702,315 shares of the semiconductor company’s stock valued at $402,560,000 after purchasing an additional 159,770 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after purchasing an additional 666,456 shares in the last quarter. State Street Corp raised its holdings in shares of Semtech by 1.5% in the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after purchasing an additional 60,788 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Semtech by 9.8% in the 2nd quarter. Alliancebernstein L.P. now owns 3,318,384 shares of the semiconductor company’s stock valued at $149,792,000 after purchasing an additional 294,990 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings in shares of Semtech by 4.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,894,536 shares of the semiconductor company’s stock valued at $130,659,000 after purchasing an additional 115,921 shares in the last quarter.

About Semtech

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.