Brokerages Set Semtech Corporation (NASDAQ:SMTC) PT at $61.08

Key Points

• Semtech Corporation has received an average rating of "Moderate Buy" from analysts, with one hold rating and eleven buy ratings among the twelve analysts covering the stock.
• The average 1-year price target for Semtech is $61.08, with various analysts setting targets that range from $54 to $76.
• Insider trading activity includes the CFO and a director selling shares of Semtech, leading to a decrease in their ownership stakes.

Shares of Semtech Corporation (NASDAQ:SMTC - Get Free Report) have earned an average rating of "Moderate Buy" from the twelve ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $61.0833.

A number of analysts have issued reports on SMTC shares. Piper Sandler boosted their target price on Semtech from $55.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Stifel Nicolaus increased their target price on shares of Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 18th. Craig Hallum raised their price objective on shares of Semtech from $55.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Morgan Stanley set a $43.00 price target on shares of Semtech in a report on Wednesday, May 28th. Finally, Benchmark lifted their target price on shares of Semtech from $68.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, September 9th.

Insider Activity

In other news, Director Martin Burvill sold 3,500 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were 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. The trade was a 33.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Lin sold 999 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total transaction of $43,796.16. Following the sale, the chief financial officer directly owned 17,211 shares of the company's stock, valued at approximately $754,530.24. This represents a 5.49% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SMTC. Westfield Capital Management Co. LP grew its position in Semtech by 107.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,747,260 shares of the semiconductor company's stock worth $124,011,000 after purchasing an additional 1,424,909 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Semtech by 15.8% during the first quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company's stock valued at $221,737,000 after purchasing an additional 877,422 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Semtech in the 1st quarter valued at approximately $27,940,000. Invesco Ltd. lifted its position in shares of Semtech by 74.0% in the 1st quarter. Invesco Ltd. now owns 1,800,174 shares of the semiconductor company's stock valued at $61,926,000 after acquiring an additional 765,558 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Semtech by 168.1% in the 1st quarter. Deutsche Bank AG now owns 1,210,078 shares of the semiconductor company's stock valued at $41,627,000 after acquiring an additional 758,642 shares in the last quarter.

Semtech Price Performance

Shares of Semtech stock traded up $0.65 on Friday, hitting $62.18. 34,545 shares of the company were exchanged, compared to its average volume of 2,346,971. Semtech has a 1-year low of $24.05 and a 1-year high of $79.52. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 259.10 and a beta of 1.98. The company has a 50-day moving average price of $54.83 and a 200 day moving average price of $43.08. The company has a quick ratio of 1.78, a current ratio of 2.53 and a debt-to-equity ratio of 0.94.

About Semtech

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.