Semtech (NASDAQ:SMTC) Price Target Raised to $36.00 at Stifel Nicolaus

Semtech (NASDAQ:SMTC) had its target price boosted by Stifel Nicolaus from $31.00 to $36.00 in a research note issued to investors on Thursday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts have also commented on the company. Needham & Company LLC increased 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. Robert W. Baird increased their price target on Semtech from $40.00 to $50.00 and gave the company an outperform rating in a research note on Monday, April 1st. Piper Sandler reissued an overweight rating and set a $40.00 price target (up from $30.00) on shares of Semtech in a research note on Monday, April 1st. Susquehanna increased their price target on Semtech from $30.00 to $45.00 and gave the company a positive rating in a research note on Monday, April 1st. Finally, Northland Securities increased their price target on Semtech from $30.00 to $36.50 and gave the company an outperform rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $39.85.

Semtech Stock Performance

NASDAQ:SMTC opened at $31.05 on Thursday. The company has a current ratio of 2.46, a quick ratio of 1.79 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. The stock has a 50-day moving average price of $25.28 and a 200 day moving average price of $21.19. The stock has a market capitalization of $2.00 billion, a P/E ratio of -1.83 and a beta of 1.85.

Semtech (NASDAQ:SMTC) last released its earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Semtech had a negative return on equity of 9.41% and a negative net margin of 125.70%. The business had revenue of $192.95 million for the quarter, compared to analysts’ expectations of $191.24 million. Equities research analysts forecast that Semtech will post -0.09 EPS for the current fiscal year.

Insider Activity

In other Semtech news, CFO Mark Lin purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was purchased at an average cost of $33.23 per share, with a total value of $33,230.00. Following the purchase, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $33,230. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Semtech

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

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.