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Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Semtech logo with Computer and Technology background

Semtech (NASDAQ:SMTC - Free Report) had its price target increased by Stifel Nicolaus from $45.00 to $54.00 in a research report sent to investors on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company's stock.

A number of other equities research analysts also recently issued reports on the stock. UBS Group lowered their target price on shares of Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, May 5th. Needham & Company LLC restated a "buy" rating and issued a $54.00 price target on shares of Semtech in a report on Wednesday, May 28th. Morgan Stanley set a $43.00 price objective on Semtech in a report on Wednesday, May 28th. Finally, Benchmark restated a "buy" rating and set a $68.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $59.58.

View Our Latest Stock Analysis on SMTC

Semtech Stock Performance

Shares of SMTC stock traded up $0.67 during trading hours on Friday, reaching $54.29. 237,032 shares of the company's stock were exchanged, compared to its average volume of 2,163,056. The company has a market cap of $4.70 billion, a P/E ratio of -26.33 and a beta of 1.92. The company's 50 day moving average is $42.05 and its two-hundred day moving average is $42.68. Semtech has a 1 year low of $24.05 and a 1 year high of $79.52. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.53 and a quick ratio of 1.81.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The business had revenue of $251.10 million for the quarter, compared to analyst estimates of $249.79 million. During the same quarter in the previous year, the company earned $0.06 EPS. The company's quarterly revenue was up 21.8% on a year-over-year basis. Equities research analysts anticipate that Semtech will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $42.98, for a total value of $85,960.00. Following the completion of the transaction, the chief operating officer directly owned 105,996 shares in the company, valued at $4,555,708.08. This trade represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Lin sold 999 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total transaction of $43,796.16. Following the completion of the sale, the chief financial officer owned 17,211 shares in the company, valued at $754,530.24. The trade was a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp lifted its holdings in shares of Semtech by 23.5% during the 2nd quarter. Truist Financial Corp now owns 8,080 shares of the semiconductor company's stock valued at $365,000 after buying an additional 1,535 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Semtech during the 2nd quarter valued at about $854,000. Avior Wealth Management LLC acquired a new position in shares of Semtech during the 2nd quarter valued at about $415,000. State of Alaska Department of Revenue increased its holdings in shares of Semtech by 8.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 51,590 shares of the semiconductor company's stock valued at $2,328,000 after acquiring an additional 3,994 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Semtech by 26.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,807 shares of the semiconductor company's stock valued at $172,000 after acquiring an additional 791 shares during the last quarter.

About Semtech

(Get Free Report)

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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