Semtech (NASDAQ:SMTC) Given New $100.00 Price Target at Susquehanna

Semtech (NASDAQ:SMTC) had its target price increased by Susquehanna from $90.00 to $100.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

SMTC has been the topic of a number of other research reports. Roth Mkm boosted their price target on Semtech from $65.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Semtech in a research note on Monday, December 29th. Morgan Stanley set a $67.00 target price on shares of Semtech in a research report on Tuesday, November 25th. Wall Street Zen lowered shares of Semtech from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 26th. Finally, UBS Group reaffirmed a “buy” rating on shares of Semtech in a report on Tuesday, November 25th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.79.

Semtech Trading Up 3.8%

Shares of NASDAQ:SMTC opened at $85.14 on Monday. The business’s 50-day moving average is $82.80 and its 200 day moving average is $73.02. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.43 and a quick ratio of 1.71. Semtech has a 1 year low of $24.05 and a 1 year high of $96.46. The firm has a market capitalization of $7.88 billion, a P/E ratio of 274.65 and a beta of 1.99.

Insider Activity

In related news, COO Asaf Silberstein sold 10,000 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $92.00, for a total value of $920,000.00. Following the completion of the transaction, the chief operating officer owned 68,496 shares of the company’s stock, valued at approximately $6,301,632. This represents a 12.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Lin sold 6,582 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $83.75, for a total value of $551,242.50. Following the transaction, the chief financial officer owned 22,125 shares in the company, valued at $1,852,968.75. This represents a 22.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 33,549 shares of company stock worth $2,787,350. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its position in shares of Semtech by 243.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 360 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in Semtech in the 3rd quarter worth $41,000. AlphaQuest LLC increased its holdings in Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 173 shares in the last quarter. Jones Financial Companies Lllp raised its position in Semtech by 65.5% during the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 235 shares during the period. Finally, Assetmark Inc. raised its position in Semtech by 1,745.5% during the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 576 shares during the period.

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.