Semtech (NASDAQ:SMTC) Given New $80.00 Price Target at Susquehanna

Semtech (NASDAQ:SMTC) had its price target increased by Susquehanna from $65.00 to $80.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

Several other research firms have also recently issued reports on SMTC. Craig Hallum raised their target price on Semtech from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Semtech in a report on Wednesday, October 8th. TD Cowen assumed coverage on shares of Semtech in a report on Wednesday, October 1st. They issued a “buy” rating and a $75.00 price objective on the stock. Wall Street Zen cut shares of Semtech from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Northland Securities increased their target price on shares of Semtech from $48.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 26th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.93.

Semtech Stock Down 3.0%

Shares of NASDAQ SMTC opened at $62.71 on Tuesday. The company has a market capitalization of $5.44 billion, a P/E ratio of 261.29 and a beta of 2.03. 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 company has a 50 day simple moving average of $66.87 and a 200-day simple moving average of $53.55. Semtech has a 1 year low of $24.05 and a 1 year high of $79.52.

Insider Activity at Semtech

In other news, Director Martin Burvill sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total value of $219,625.00. Following the completion of the transaction, the director owned 6,909 shares of the company’s stock, valued at approximately $433,539.75. This trade represents a 33.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul V. Walsh, Jr. sold 500 shares of Semtech stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $66.24, for a total transaction of $33,120.00. Following the completion of the transaction, the director owned 26,779 shares of the company’s stock, valued at $1,773,840.96. This trade represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,971 shares of company stock worth $323,463 in the last three months. 0.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Semtech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its stake in shares of Semtech by 78.4% in the second quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 287 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Semtech in the 2nd quarter valued at about $33,000. Smartleaf Asset Management LLC grew its position in shares of Semtech by 33.4% during the first quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company’s stock worth $36,000 after buying an additional 257 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Semtech by 243.2% during the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after buying an additional 360 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in Semtech in the third quarter valued at approximately $41,000.

Semtech Company Profile

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.