Insider Buying: Semtech Co. (NASDAQ:SMTC) CFO Buys 1,000 Shares of Stock

Semtech Co. (NASDAQ:SMTC - Get Free Report) CFO Mark Lin acquired 1,000 shares of Semtech stock in a transaction that occurred on Monday, April 8th. The stock was 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 of the company's stock, valued at $33,230. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Semtech Stock Up 4.1 %

Shares of NASDAQ:SMTC traded up $1.32 during midday trading on Monday, reaching $33.86. The company had a trading volume of 5,828,240 shares, compared to its average volume of 1,709,343. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.46 and a quick ratio of 1.79. The stock's fifty day moving average price is $22.94 and its 200-day moving average price is $20.72. The stock has a market capitalization of $2.19 billion, a P/E ratio of -1.99 and a beta of 1.85. Semtech Co. has a one year low of $13.13 and a one year high of $35.80.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Susquehanna raised their target price on shares of Semtech from $30.00 to $45.00 and gave the stock a "positive" rating in a research report on Monday, April 1st. Stifel Nicolaus lifted their price target on shares of Semtech from $26.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, April 1st. Piper Sandler reaffirmed 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. Robert W. Baird lifted their price target on shares of Semtech from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Monday, April 1st. Finally, Northland Securities lifted their price target on shares of Semtech from $30.00 to $36.50 and gave the company an "outperform" rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Semtech has a consensus rating of "Moderate Buy" and an average price target of $39.35.

Institutional Trading of Semtech

Several institutional investors have recently added to or reduced their stakes in the business. Ethic Inc. grew its position in shares of Semtech by 7.6% during the first quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company's stock worth $315,000 after acquiring an additional 320 shares during the last quarter. Zebra Capital Management LLC grew its position in shares of Semtech by 10.5% during the first quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company's stock worth $240,000 after acquiring an additional 327 shares during the last quarter. Credit Suisse AG lifted its holdings in Semtech by 0.6% in the fourth quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company's stock worth $1,773,000 after purchasing an additional 347 shares during the period. Bridgefront Capital LLC lifted its holdings in Semtech by 14.7% in the first quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company's stock worth $204,000 after purchasing an additional 377 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Semtech by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company's stock worth $660,000 after purchasing an additional 399 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.