Semtech (NASDAQ:SMTC) Rating Reiterated by Piper Sandler

Semtech (NASDAQ:SMTC)‘s stock had its “overweight” rating reaffirmed by equities researchers at Piper Sandler in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $40.00 price objective on the semiconductor company’s stock, up from their previous price objective of $30.00. Piper Sandler’s price target would suggest a potential upside of 33.96% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. Needham & Company LLC upped their target price on shares of Semtech from $26.00 to $38.00 and gave the company a “buy” rating in a research report on Monday. Roth Mkm cut their target price on shares of Semtech from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, December 7th. Robert W. Baird restated an “outperform” rating and set a $40.00 target price on shares of Semtech in a research note on Tuesday, March 26th. Susquehanna increased their price target on shares of Semtech from $25.00 to $30.00 and gave the company a “positive” rating in a research note on Thursday, March 14th. Finally, Craig Hallum increased their price objective on Semtech from $30.00 to $36.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and an average target price of $37.40.

Semtech Trading Up 8.6 %

NASDAQ SMTC traded up $2.37 during trading hours on Monday, reaching $29.86. The company had a trading volume of 2,676,192 shares, compared to its average volume of 1,342,567. The stock has a 50-day moving average of $21.76 and a 200 day moving average of $20.45. Semtech has a 1-year low of $13.13 and a 1-year high of $30.84. The company has a current ratio of 2.39, a quick ratio of 1.72 and a debt-to-equity ratio of 4.11. The stock has a market capitalization of $1.92 billion, a P/E ratio of -1.78, a price-to-earnings-growth ratio of 16.04 and a beta of 1.85.

Institutional Trading of Semtech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMTC. Neo Ivy Capital Management acquired a new stake in Semtech in the 2nd quarter worth about $41,000. Quarry LP acquired a new stake in Semtech in the 1st quarter worth about $49,000. Cape Investment Advisory Inc. acquired a new stake in Semtech in the 4th quarter worth about $63,000. Captrust Financial Advisors lifted its position in Semtech by 186.5% during the 1st quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 664 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Semtech by 35.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,781 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 726 shares in the last quarter.

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.