Weiss Ratings Reiterates "Sell (D)" Rating for Semtech (NASDAQ:SMTC)

Key Points

• Weiss Ratings has reiterated a "Sell (D)" rating for Semtech, indicating potential concerns regarding the company's stock performance.
• Various research analysts have given mixed ratings on Semtech, with firms like Benchmark and TD Cowen issuing "buy" ratings and increased target prices, while Weiss Ratings maintains a more cautious stance.
• Insider activity has been noted, with director and CFO selling shares recently, indicating a reduction in their holdings, which could signal their outlook on the stock's performance.

Semtech (NASDAQ:SMTC - Get Free Report)'s stock had its "sell (d)" rating reiterated by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued reports about the stock. Benchmark increased their target price on shares of Semtech from $68.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Northland Securities increased their target price on shares of Semtech from $48.00 to $53.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. TD Cowen started coverage on shares of Semtech in a report on Wednesday, October 1st. They set a "buy" rating and a $75.00 target price on the stock. Oppenheimer upgraded shares of Semtech from a "market perform" rating to an "outperform" rating and set a $81.00 target price on the stock in a report on Tuesday, September 30th. Finally, Stifel Nicolaus set a $80.00 target price on shares of Semtech in a report on Wednesday, October 1st. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Semtech presently has a consensus rating of "Moderate Buy" and an average target price of $65.36.

Semtech Stock Down 0.5%

Shares of Semtech stock opened at $70.54 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.53 and a quick ratio of 1.78. Semtech has a 1 year low of $24.05 and a 1 year high of $79.52. The firm's 50-day moving average is $58.45 and its two-hundred day moving average is $45.49. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 293.92 and a beta of 2.01.

Insider Transactions at Semtech

In related news, Director Martin Burvill sold 3,500 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 6,909 shares of the company's stock, valued at $433,539.75. This trade represents a 33.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $70,717.93. Following the completion of the transaction, 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. 0.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Semtech

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. raised its position in shares of Semtech by 78.4% in the 2nd quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 287 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Semtech in the 2nd quarter valued at approximately $33,000. NBC Securities Inc. raised its position in shares of Semtech by 104,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 1,047 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Semtech by 33.4% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 257 shares during the last quarter. Finally, Archer Investment Corp purchased a new position in Semtech during the 1st quarter worth approximately $64,000.

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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