Semtech's (SMTC) "Overweight" Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Semtech (NASDAQ:SMTC - Free Report) in a research report released on Monday, Benzinga reports. The brokerage currently has a $40.00 price objective on the semiconductor company's stock, up from their previous price objective of $30.00.

A number of other analysts have also issued reports on SMTC. Stifel Nicolaus raised their target price on Semtech from $22.00 to $26.00 and gave the company a buy rating in a report on Tuesday, January 2nd. Roth Mkm lowered their target price on Semtech from $46.00 to $42.00 and set a buy rating on the stock in a report on Thursday, December 7th. Susquehanna raised their target price on Semtech from $25.00 to $30.00 and gave the company a positive rating in a report on Thursday, March 14th. Robert W. Baird reaffirmed an outperform rating and issued a $40.00 target price on shares of Semtech in a report on Tuesday, March 26th. Finally, Needham & Company LLC raised their price objective on Semtech from $26.00 to $38.00 and gave the stock a buy rating in a research report on Monday. One investment 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. According to data from MarketBeat, Semtech presently has a consensus rating of Moderate Buy and an average target price of $39.35.

Semtech Stock Performance

SMTC traded up $1.88 during midday trading on Monday, reaching $29.37. The company's stock had a trading volume of 8,084,512 shares, compared to its average volume of 1,439,865. The stock has a market cap of $1.89 billion, a P/E ratio of -1.73, a PEG ratio of 16.04 and a beta of 1.85. The company has a fifty day simple moving average of $21.90 and a 200 day simple moving average of $20.48. The company has a current ratio of 2.39, a quick ratio of 1.72 and a debt-to-equity ratio of 4.11. Semtech has a twelve month low of $13.13 and a twelve month high of $30.84.

Hedge Funds Weigh In On Semtech

Hedge funds and other institutional investors have recently modified their holdings of the stock. Neo Ivy Capital Management bought a new position in shares of Semtech during the 2nd quarter worth approximately $41,000. Quarry LP bought a new position in shares of Semtech during the 1st quarter worth approximately $49,000. Cape Investment Advisory Inc. acquired a new stake in Semtech during the 4th quarter valued at $63,000. Captrust Financial Advisors increased its holdings in Semtech by 186.5% during the 1st quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company's stock valued at $71,000 after purchasing an additional 664 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Semtech by 35.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,781 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 726 shares in the last quarter.

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.