Semtech (NASDAQ:SMTC) Earns Outperform Rating from Robert W. Baird

Robert W. Baird reissued their outperform rating on shares of Semtech (NASDAQ:SMTC) in a research note published on Tuesday, Benzinga reports. The firm currently has a $40.00 price target on the semiconductor company’s stock.

SMTC has been the subject of a number of other research reports. Roth Mkm reduced their price target on Semtech from $46.00 to $42.00 and set a buy rating for the company in a research report on Thursday, December 7th. Needham & Company LLC reduced their price target on Semtech from $35.00 to $26.00 and set a buy rating for the company in a research report on Thursday, December 7th. Stifel Nicolaus increased their price target on Semtech from $22.00 to $26.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Finally, Susquehanna increased their price target on Semtech from $25.00 to $30.00 and gave the company a positive rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $33.10.

Semtech Stock Down 1.3 %

Semtech stock opened at $27.49 on Tuesday. The stock has a market cap of $1.77 billion, a PE ratio of -3.51, a price-to-earnings-growth ratio of 14.68 and a beta of 1.81. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.72 and a current ratio of 2.39. Semtech has a one year low of $13.13 and a one year high of $32.44. The stock has a fifty day moving average of $21.63 and a 200 day moving average of $20.45.

Institutional Investors Weigh In On Semtech

Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Cambridge Investment Research Advisors Inc. purchased a new position in Semtech during the 1st quarter worth $248,000. Bank of Montreal Can increased its holdings in Semtech by 24.8% during the 1st quarter. Bank of Montreal Can now owns 5,486 shares of the semiconductor company’s stock worth $397,000 after purchasing an additional 1,089 shares during the period. Rhumbline Advisers increased its holdings in Semtech by 2.2% during the 1st quarter. Rhumbline Advisers now owns 180,638 shares of the semiconductor company’s stock worth $12,525,000 after purchasing an additional 3,874 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Semtech by 10.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,975 shares of the semiconductor company’s stock worth $1,662,000 after purchasing an additional 2,265 shares during the period. Finally, BlackRock Inc. increased its holdings in Semtech by 3.7% during the 1st quarter. BlackRock Inc. now owns 7,160,578 shares of the semiconductor company’s stock worth $496,515,000 after purchasing an additional 257,224 shares during the period.

About Semtech

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.