Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Benchmark Analyst Says

Semtech (NASDAQ:SMTC) had its target price upped by analysts at Benchmark from $85.00 to $115.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s price objective points to a potential upside of 32.06% from the company’s previous close.

Several other research analysts have also issued reports on SMTC. Needham & Company LLC reissued a “buy” rating and set a $80.00 target price on shares of Semtech in a research note on Tuesday, November 25th. Robert W. Baird lifted their price target on shares of Semtech from $70.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Piper Sandler reissued an “overweight” rating and set a $95.00 price objective (up from $70.00) on shares of Semtech in a research report on Thursday, December 11th. Morgan Stanley set a $67.00 target price on Semtech in a research note on Tuesday, November 25th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $81.00 target price on shares of Semtech in a research report on Tuesday, November 25th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.36.

Semtech Price Performance

Shares of SMTC opened at $87.08 on Wednesday. The firm has a market cap of $8.06 billion, a PE ratio of 280.90 and a beta of 1.99. Semtech has a 52-week low of $24.05 and a 52-week high of $96.46. The business’s 50 day moving average price is $82.50 and its two-hundred day moving average price is $72.21. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.71 and a current ratio of 2.43.

Insider Buying and Selling

In other Semtech news, COO Asaf Silberstein sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $92.00, for a total transaction of $920,000.00. Following the completion of the sale, the chief operating officer directly owned 68,496 shares of the company’s stock, valued at approximately $6,301,632. The trade was a 12.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul V. Walsh, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $78.25, for a total value of $39,125.00. Following the completion of the transaction, the director owned 25,279 shares in the company, valued at $1,978,081.75. This represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,967 shares of company stock worth $2,236,108 over the last ninety days. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Semtech

Several institutional investors have recently bought and sold shares of SMTC. Evergreen Capital Management LLC lifted its stake in Semtech by 2.3% during the 4th quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company’s stock valued at $438,000 after acquiring an additional 136 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Semtech by 3.3% in the 4th quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company’s stock worth $325,000 after acquiring an additional 142 shares in the last quarter. Journey Strategic Wealth LLC raised its holdings in shares of Semtech by 3.2% in the third quarter. Journey Strategic Wealth LLC now owns 5,074 shares of the semiconductor company’s stock valued at $363,000 after purchasing an additional 159 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Semtech by 0.8% in the fourth quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company’s stock valued at $1,422,000 after purchasing an additional 162 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in shares of Semtech by 42.5% during the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 173 shares in the last quarter.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.