Analysts Set Semtech Co. (NASDAQ:SMTC) Price Target at $39.35

Semtech Co. (NASDAQ:SMTC) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $39.35.

Several research firms recently issued reports on SMTC. Piper Sandler reiterated an “overweight” rating and set a $40.00 price target (up previously from $30.00) on shares of Semtech in a research report on Monday, April 1st. Needham & Company LLC lifted their price target on Semtech from $26.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Northland Securities boosted their price target on Semtech from $30.00 to $36.50 and gave the stock an “outperform” rating in a report on Monday, April 1st. Susquehanna raised their price objective on Semtech from $30.00 to $45.00 and gave the company a “positive” rating in a research note on Monday, April 1st. Finally, Stifel Nicolaus lifted their target price on Semtech from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, April 1st.

Insider Buying and Selling

In related news, CFO Mark Lin purchased 1,000 shares of Semtech stock in a transaction on Monday, April 8th. The shares were purchased at an average price of $33.23 per share, for a total transaction of $33,230.00. Following the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $33,230. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Semtech

A number of institutional investors have recently modified their holdings of the company. Ethic Inc. lifted its stake in shares of Semtech by 7.6% in the 1st quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock valued at $315,000 after purchasing an additional 320 shares during the period. Zebra Capital Management LLC lifted its stake in Semtech by 10.5% in the first quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 327 shares during the period. Credit Suisse AG boosted its holdings in shares of Semtech by 0.6% during the 4th quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company’s stock worth $1,773,000 after buying an additional 347 shares in the last quarter. Bridgefront Capital LLC grew its position in shares of Semtech by 14.7% during the 1st quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company’s stock worth $204,000 after buying an additional 377 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Semtech by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company’s stock valued at $660,000 after acquiring an additional 399 shares in the last quarter.

Semtech Trading Down 0.2 %

Shares of Semtech stock opened at $32.86 on Friday. The firm’s 50-day moving average price is $24.84 and its two-hundred day moving average price is $21.12. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -1.93 and a beta of 1.85. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 4.11. Semtech has a 12-month low of $13.13 and a 12-month high of $35.80.

Semtech Company Profile

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