Semtech (NASDAQ:SMTC) PT Raised to $38.00 at Needham & Company LLC

Semtech (NASDAQ:SMTC) had its price objective hoisted by analysts at Needham & Company LLC from $26.00 to $38.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target suggests a potential upside of 34.80% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Roth Mkm decreased their price objective on shares of Semtech from $46.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, December 7th. Stifel Nicolaus boosted their price objective on shares of Semtech from $22.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Susquehanna boosted their price objective on shares of Semtech from $25.00 to $30.00 and gave the company a “positive” rating in a report on Thursday, March 14th. Finally, Robert W. Baird reissued an “outperform” rating and set a $40.00 price objective on shares of Semtech in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Semtech has an average rating of “Moderate Buy” and an average price target of $39.35.

Semtech Stock Down 4.0 %

SMTC opened at $28.19 on Monday. The company has a quick ratio of 1.72, a current ratio of 2.39 and a debt-to-equity ratio of 4.11. The firm has a 50 day moving average price of $22.02 and a 200-day moving average price of $20.50. Semtech has a twelve month low of $13.13 and a twelve month high of $30.84. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -1.66, a PEG ratio of 16.04 and a beta of 1.85.

Institutional Trading of Semtech

Large investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management bought a new stake in Semtech during the second quarter valued at approximately $41,000. Captrust Financial Advisors boosted its position in shares of Semtech by 186.5% in the first quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 664 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Semtech in the first quarter worth approximately $84,000. Covestor Ltd boosted its position in shares of Semtech by 123.9% in the first quarter. Covestor Ltd now owns 1,397 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 773 shares during the period. Finally, Quarry LP bought a new position in shares of Semtech in the first quarter worth approximately $49,000.

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.