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

Semtech (NASDAQ:SMTC - Get Free Report) had its price objective boosted by stock analysts at Stifel Nicolaus from $31.00 to $36.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Stifel Nicolaus' price objective would indicate a potential upside of 12.32% from the company's current price.

A number of other equities research analysts have also commented on the company. Robert W. Baird increased their price target on Semtech from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Monday, April 1st. Susquehanna increased their price target on Semtech from $30.00 to $45.00 and gave the stock a "positive" rating in a research report on Monday, April 1st. Northland Securities increased their price target on Semtech from $30.00 to $36.50 and gave the stock an "outperform" rating in a research report on Monday, April 1st. Piper Sandler restated an "overweight" rating and set a $40.00 price target (up from $30.00) on shares of Semtech in a research report on Monday, April 1st. Finally, Craig Hallum increased their price target on Semtech from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $39.85.

Semtech Price Performance

Shares of SMTC stock traded down $0.81 during trading hours on Thursday, hitting $32.05. The company had a trading volume of 2,574,498 shares, compared to its average volume of 1,931,499. Semtech has a 12 month low of $13.13 and a 12 month high of $35.80. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -1.88 and a beta of 1.85. The firm's fifty day moving average is $25.08 and its 200 day moving average is $21.20. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.79 and a current ratio of 2.46.

Insiders Place Their Bets

In related news, CFO Mark Lin purchased 1,000 shares of the business's stock in a transaction dated Monday, April 8th. The shares were bought at an average price of $33.23 per share, with a total value of $33,230.00. Following the purchase, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $33,230. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Partnership Wealth Management LLC lifted its stake in shares of Semtech by 377.4% in the 1st quarter. Partnership Wealth Management LLC now owns 30,670 shares of the semiconductor company's stock valued at $843,000 after purchasing an additional 24,245 shares during the period. GAMMA Investing LLC raised its stake in Semtech by 83.9% during the 1st quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company's stock worth $47,000 after buying an additional 773 shares during the period. Moody National Bank Trust Division acquired a new stake in Semtech during the 1st quarter worth $243,000. Versant Capital Management Inc raised its stake in Semtech by 205.0% during the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company's stock worth $51,000 after buying an additional 1,259 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Semtech by 19.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,217,670 shares of the semiconductor company's stock worth $26,679,000 after buying an additional 197,595 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.