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

Semtech (NASDAQ:SMTC) had its target price raised by equities researchers at Stifel Nicolaus from $31.00 to $36.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 10.97% from the stock’s previous close.

SMTC has been the subject of a number of other reports. Oppenheimer reaffirmed a “market perform” rating on shares of Semtech in a report on Monday, April 1st. Needham & Company LLC lifted their price objective on shares of Semtech from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Robert W. Baird lifted their price objective on shares of Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Piper Sandler reissued an “overweight” rating and issued a $40.00 price target (up from $30.00) on shares of Semtech in a research note on Monday, April 1st. Finally, Susquehanna boosted their price target on shares of Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.85.

Semtech Price Performance

Shares of NASDAQ SMTC traded down $0.42 during mid-day trading on Thursday, reaching $32.44. 1,558,486 shares of the company were exchanged, compared to its average volume of 1,917,439. Semtech has a 52 week low of $13.13 and a 52 week high of $35.80. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 4.11. The stock has a market capitalization of $2.09 billion, a PE ratio of -1.91 and a beta of 1.85. The company’s 50 day moving average price is $24.84 and its 200 day moving average price is $21.12.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin acquired 1,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were purchased at an average price of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $33,230. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Semtech

A number of institutional investors have recently bought and sold shares of SMTC. BlackRock Inc. raised its stake in Semtech by 29.7% in the first quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock worth $291,861,000 after buying an additional 2,769,314 shares in the last quarter. Kodai Capital Management LP bought a new position in Semtech in the fourth quarter worth about $43,504,000. Ameriprise Financial Inc. raised its stake in Semtech by 58.9% in the third 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 in the last quarter. Point72 Asset Management L.P. raised its stake in Semtech by 1,084.1% in the second 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 in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Semtech by 374.2% in the fourth 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 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.