Semtech (NASDAQ:SMTC) Given New $36.50 Price Target at Northland Securities

Semtech (NASDAQ:SMTC - Get Free Report) had its target price upped by equities research analysts at Northland Securities from $30.00 to $36.50 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an "outperform" rating on the semiconductor company's stock. Northland Securities' target price indicates a potential upside of 24.28% from the company's previous close.

Other analysts also recently issued reports about the company. Susquehanna boosted their price target on Semtech from $30.00 to $45.00 and gave the company a "positive" rating in a research note on Monday. Craig Hallum boosted their price target on Semtech from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Monday. Robert W. Baird boosted their price target on Semtech from $40.00 to $50.00 and gave the company an "outperform" rating in a research note on Monday. Stifel Nicolaus boosted their price target on Semtech from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Monday. Finally, Needham & Company LLC lifted their price objective on Semtech from $26.00 to $38.00 and gave the company a "buy" rating in a report on Monday. 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.35.

Semtech Stock Up 6.8 %

SMTC stock traded up $1.88 during mid-day trading on Monday, reaching $29.37. The company had a trading volume of 8,084,512 shares, compared to its average volume of 1,439,865. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.39 and a quick ratio of 1.72. The stock has a 50 day simple moving average of $21.76 and a two-hundred day simple moving average of $20.45. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -1.72, a PEG ratio of 16.04 and a beta of 1.85. Semtech has a 52 week low of $13.13 and a 52 week high of $30.84.

Institutional Investors Weigh In On Semtech

Hedge funds have recently added to or reduced their stakes in the company. Guggenheim Capital LLC lifted its holdings in shares of Semtech by 58.5% in the second quarter. Guggenheim Capital LLC now owns 26,520 shares of the semiconductor company's stock valued at $675,000 after purchasing an additional 9,792 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Semtech by 50.0% during the second quarter. Farther Finance Advisors LLC now owns 4,500 shares of the semiconductor company's stock worth $115,000 after acquiring an additional 1,500 shares during the period. Legato Capital Management LLC bought a new stake in Semtech during the fourth quarter worth $201,000. Fuller & Thaler Asset Management Inc. lifted its holdings in Semtech by 8.8% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 552,115 shares of the semiconductor company's stock worth $14,217,000 after acquiring an additional 44,512 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in Semtech by 76.7% during the third quarter. New York State Common Retirement Fund now owns 468,166 shares of the semiconductor company's stock worth $12,055,000 after acquiring an additional 203,182 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.