Semtech (NASDAQ:SMTC) Stock Price Up 4.8%

Semtech Co. (NASDAQ:SMTC - Get Free Report)'s share price rose 4.8% during mid-day trading on Thursday . The company traded as high as $34.91 and last traded at $34.84. Approximately 1,606,872 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 1,782,642 shares. The stock had previously closed at $33.23.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Northland Securities boosted their price objective on shares of Semtech from $30.00 to $36.50 and gave the company an "outperform" rating in a research note on Monday, April 1st. Susquehanna increased their price objective on Semtech from $30.00 to $45.00 and gave the stock a "positive" rating in a research report on Monday, April 1st. Stifel Nicolaus boosted their target price on Semtech from $26.00 to $31.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. Craig Hallum raised their price target on Semtech from $30.00 to $36.00 and gave the company a "buy" rating in a report on Monday, April 1st. Finally, Needham & Company LLC boosted their price objective on Semtech from $26.00 to $38.00 and gave the stock a "buy" rating in a report on Monday, April 1st. 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 company. Based on data from MarketBeat, Semtech presently has an average rating of "Moderate Buy" and an average price target of $39.35.

Semtech Stock Performance

The company has a market cap of $2.26 billion, a P/E ratio of -2.05 and a beta of 1.85. The company's fifty day moving average is $23.48 and its 200 day moving average is $20.86. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11.

Insider Buying and Selling at Semtech

In related news, CFO Mark Lin acquired 1,000 shares of the firm's stock in a transaction dated 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 acquisition, the chief financial officer now owns 1,000 shares in the company, valued at $33,230. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in Semtech during the 2nd quarter valued at $41,000. GAMMA Investing LLC raised its stake in shares of Semtech by 83.9% during the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 773 shares during the last quarter. Quarry LP purchased a new stake in shares of Semtech during the first quarter worth about $49,000. Versant Capital Management Inc grew its stake in shares of Semtech by 205.0% in the first quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company's stock worth $51,000 after purchasing an additional 1,259 shares during the last quarter. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Semtech in the fourth quarter worth about $63,000.

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.