Semtech Corporation (NASDAQ:SMTC) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Semtech Corporation (NASDAQ:SMTC) received an average rating of "Moderate Buy" from 16 research firms, with 14 analysts issuing buy ratings.
• The average target price for Semtech's stock among brokers is $65.36, with recent upgrades from firms like Needham & Company and Benchmark.
• Institutional investments have increased, with Bessemer Group Inc. raising its stake in Semtech by 78.4% during the second quarter.

Shares of Semtech Corporation (NASDAQ:SMTC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the sixteen research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $65.3571.

Several brokerages have recently issued reports on SMTC. Needham & Company LLC lifted their price target on Semtech from $54.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Cowen began coverage on shares of Semtech in a research note on Tuesday, September 30th. They issued a "buy" rating for the company. Stifel Nicolaus set a $80.00 target price on shares of Semtech in a research note on Wednesday, October 1st. Benchmark lifted their price objective on shares of Semtech from $68.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. Finally, Piper Sandler lifted their price objective on shares of Semtech from $55.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 971 shares of the business's stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $72.83, for a total value of $70,717.93. Following the completion of the sale, the chief financial officer directly owned 17,844 shares in the company, valued at approximately $1,299,578.52. The trade was a 5.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Martin Burvill sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total value of $219,625.00. Following the completion of the sale, the director owned 6,909 shares of the company's stock, valued at approximately $433,539.75. This trade represents a 33.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in Semtech by 78.4% during the 2nd quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 287 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Semtech during the 2nd quarter worth about $33,000. Smartleaf Asset Management LLC lifted its position in shares of Semtech by 33.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 257 shares during the last quarter. Archer Investment Corp acquired a new position in shares of Semtech during the 1st quarter worth about $64,000. Finally, Strs Ohio acquired a new position in shares of Semtech during the 1st quarter worth about $65,000.

Semtech Price Performance

SMTC opened at $67.63 on Wednesday. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 281.79 and a beta of 2.01. Semtech has a 1 year low of $24.05 and a 1 year high of $79.52. The company has a current ratio of 2.53, a quick ratio of 1.78 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average price of $59.79 and a 200 day moving average price of $46.36.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.