Semtech (NASDAQ:SMTC) Upgraded at Wall Street Zen

Key Points

• Semtech has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, reflecting positive sentiment among analysts.
• Benchmark analysts have raised their price target for Semtech from $68.00 to $76.00, with various analysts rating the stock highly, resulting in an average target price of $65.36.
• Recent insider trading includes the sale of shares by Director Martin Burvill and CFO Mark Lin, signaling potential shifts in confidence among company leaders.

Semtech (NASDAQ:SMTC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

Several other equities research analysts have also recently weighed in on SMTC. Benchmark increased their price target on Semtech from $68.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. TD Cowen started coverage on Semtech in a research report on Wednesday, October 1st. They set a "buy" rating and a $75.00 target price on the stock. Oppenheimer upgraded Semtech from a "market perform" rating to an "outperform" rating and set a $81.00 target price on the stock in a research report on Tuesday, September 30th. Cowen started coverage on Semtech in a research report on Tuesday, September 30th. They set a "buy" rating on the stock. Finally, Craig Hallum upped their target price on Semtech from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Semtech presently has an average rating of "Moderate Buy" and an average target price of $65.36.

Semtech Trading Down 4.2%

Shares of SMTC stock opened at $67.78 on Friday. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 282.42 and a beta of 2.01. The stock has a 50-day moving average of $60.89 and a 200-day moving average of $47.00. The company has a current ratio of 2.53, a quick ratio of 1.78 and a debt-to-equity ratio of 0.94. Semtech has a 1-year low of $24.05 and a 1-year high of $79.52.

Insider Buying and Selling

In related news, Director Martin Burvill sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total transaction of $219,625.00. Following the completion of the sale, the director directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Lin sold 971 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $72.83, for a total value of $70,717.93. Following the sale, the chief financial officer directly owned 17,844 shares of the company's stock, valued at $1,299,578.52. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

Institutional Trading of Semtech

A number of institutional investors and hedge funds have recently modified their holdings of the business. Archford Capital Strategies LLC purchased a new stake in Semtech in the first quarter worth $1,061,000. KBC Group NV increased its position in Semtech by 16.8% in the first quarter. KBC Group NV now owns 4,084 shares of the semiconductor company's stock worth $140,000 after buying an additional 586 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Semtech in the first quarter worth $430,000. Principal Financial Group Inc. increased its position in Semtech by 4.2% in the first quarter. Principal Financial Group Inc. now owns 427,958 shares of the semiconductor company's stock worth $14,722,000 after buying an additional 17,345 shares during the last quarter. Finally, Moody Aldrich Partners LLC increased its position in Semtech by 75.6% in the first quarter. Moody Aldrich Partners LLC now owns 98,904 shares of the semiconductor company's stock worth $3,402,000 after buying an additional 42,587 shares during the last quarter.

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.

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