Semtech Co. (NASDAQ:SMTC - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 2,104,477 shares traded hands during mid-day trading, an increase of 27% from the previous session's volume of 1,653,906 shares.The stock last traded at $35.62 and had previously closed at $32.54.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on SMTC shares. Stifel Nicolaus increased their price target on shares of Semtech from $26.00 to $31.00 and gave the stock a "buy" rating in a report on Monday, April 1st. Oppenheimer reiterated a "market perform" rating on shares of Semtech in a research report on Monday, April 1st. Susquehanna boosted their price objective on shares of Semtech from $30.00 to $45.00 and gave the company a "positive" rating in a research report on Monday, April 1st. Piper Sandler reaffirmed an "overweight" rating and set a $40.00 price target (up previously from $30.00) on shares of Semtech in a research report on Monday, April 1st. Finally, Northland Securities increased their target price on Semtech from $30.00 to $36.50 and gave the stock an "outperform" rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $39.35.
View Our Latest Stock Report on SMTC
Semtech Price Performance
The firm has a 50-day moving average of $22.94 and a 200 day moving average of $20.72. The company has a market capitalization of $2.19 billion, a PE ratio of -1.99 and a beta of 1.85. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.46 and a quick ratio of 1.79.
Insider Buying and Selling
In other news, CFO Mark Lin purchased 1,000 shares of the stock in a transaction dated Monday, April 8th. The shares were purchased at an average cost of $33.23 per share, with a total value of $33,230.00. Following the acquisition, the chief financial officer now directly owns 1,000 shares of the company's stock, valued at $33,230. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Semtech by 83.9% in the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 773 shares during the last quarter. Moody National Bank Trust Division purchased a new position in Semtech in the first quarter worth about $243,000. Versant Capital Management Inc boosted its position in 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. Goldman Sachs Group Inc. boosted its position in Semtech by 19.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,217,670 shares of the semiconductor company's stock worth $26,679,000 after purchasing an additional 197,595 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Semtech by 431.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 827,582 shares of the semiconductor company's stock valued at $18,133,000 after buying an additional 671,885 shares in the last quarter.
Semtech Company Profile
(
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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.
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