Robert W. Baird Raises Semtech (NASDAQ:SMTC) Price Target to $50.00

Semtech (NASDAQ:SMTC) had its target price hoisted by Robert W. Baird from $40.00 to $50.00 in a report issued on Monday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the semiconductor company’s stock.

Several other analysts have also weighed in on SMTC. Susquehanna lifted their price objective on shares of Semtech from $30.00 to $45.00 and gave the company a positive rating in a research note on Monday. Stifel Nicolaus boosted their price target on shares of Semtech from $26.00 to $31.00 and gave the company a buy rating in a research note on Monday. Piper Sandler restated an overweight rating and set a $40.00 price target (up previously from $30.00) on shares of Semtech in a research note on Monday. Roth Mkm decreased their price target on shares of Semtech from $46.00 to $42.00 and set a buy rating for the company in a research note on Thursday, December 7th. Finally, Craig Hallum boosted their price target on shares of Semtech from $30.00 to $36.00 and gave the company a buy rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $39.35.

Semtech Stock Performance

NASDAQ:SMTC opened at $33.06 on Monday. The company has a fifty day moving average of $22.45 and a 200-day moving average of $20.66. The firm has a market capitalization of $2.13 billion, a P/E ratio of -1.94, a P/E/G ratio of 12.33 and a beta of 1.85. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 4.11. Semtech has a twelve month low of $13.13 and a twelve month high of $35.29.

Hedge Funds Weigh In On Semtech

A number of hedge funds have recently bought and sold shares of SMTC. BlackRock Inc. boosted its holdings in Semtech by 29.7% during the 1st quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock worth $291,861,000 after acquiring an additional 2,769,314 shares during the last quarter. Kodai Capital Management LP purchased a new position in Semtech during the 4th quarter worth $43,504,000. Ameriprise Financial Inc. boosted its holdings in shares of Semtech by 58.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock worth $101,927,000 after buying an additional 1,466,665 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Semtech by 1,084.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 999,400 shares of the semiconductor company’s stock worth $25,445,000 after buying an additional 915,000 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Semtech by 374.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,148,681 shares of the semiconductor company’s stock worth $25,168,000 after buying an additional 906,430 shares during the last quarter.

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.