Stifel Nicolaus Boosts Semtech (NASDAQ:SMTC) Price Target to $42.00

Semtech (NASDAQ:SMTC - Get Free Report) had its price target hoisted by Stifel Nicolaus from $35.00 to $42.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Stifel Nicolaus' price target indicates a potential upside of 12.80% from the company's current price.

A number of other equities analysts have also commented on SMTC. Needham & Company LLC reissued a "buy" rating and set a $54.00 price target on shares of Semtech in a research report on Friday, March 14th. Craig Hallum dropped their target price on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Piper Sandler reissued an "overweight" rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. UBS Group lowered their price target on shares of Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Robert W. Baird cut their price objective on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.50.

Semtech Price Performance

Shares of Semtech stock traded down $0.56 on Friday, reaching $37.23. The company had a trading volume of 215,758 shares, compared to its average volume of 2,137,623. The firm's 50-day moving average price is $33.24 and its two-hundred day moving average price is $47.52. Semtech has a 1 year low of $24.05 and a 1 year high of $79.52. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -2.84, a P/E/G ratio of 2.12 and a beta of 1.88.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. The firm's revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) EPS. As a group, analysts anticipate that Semtech will post -0.02 EPS for the current year.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 10,890 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $34.68, for a total transaction of $377,665.20. Following the sale, the chief financial officer now directly owns 11,625 shares of the company's stock, valued at approximately $403,155. This trade represents a 48.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SMTC. Vanguard Group Inc. increased its position in shares of Semtech by 1.4% in the first quarter. Vanguard Group Inc. now owns 11,702,315 shares of the semiconductor company's stock valued at $402,560,000 after buying an additional 159,770 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Semtech by 15.8% in the 1st quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company's stock worth $221,737,000 after acquiring an additional 877,422 shares in the last quarter. Hood River Capital Management LLC raised its position in Semtech by 1.8% during the fourth quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company's stock worth $213,385,000 after acquiring an additional 59,743 shares during the period. Whale Rock Capital Management LLC lifted its holdings in Semtech by 364.2% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company's stock valued at $202,015,000 after purchasing an additional 2,562,602 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Semtech by 7.9% in the first quarter. Wellington Management Group LLP now owns 2,313,213 shares of the semiconductor company's stock valued at $79,575,000 after purchasing an additional 170,132 shares during the period.

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.