Semtech (NASDAQ:SMTC) has been assigned a $63.00 target price by investment analysts at Roth Capital in a research note issued on Monday. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s target price would suggest a potential upside of 22.02% from the company’s previous close.
A number of other brokerages have also issued reports on SMTC. Stifel Nicolaus started coverage on shares of Semtech in a research report on Friday, July 20th. They set a “buy” rating and a $60.00 target price on the stock. Piper Jaffray Companies increased their price objective on shares of Semtech from $57.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, September 10th. BidaskClub lowered shares of Semtech from a “hold” rating to a “sell” rating in a report on Thursday, August 30th. Loop Capital initiated coverage on shares of Semtech in a report on Thursday, June 21st. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Needham & Company LLC lowered shares of Semtech from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Semtech presently has a consensus rating of “Buy” and an average price target of $60.27.
Shares of SMTC stock opened at $51.63 on Monday. Semtech has a 1 year low of $31.30 and a 1 year high of $60.55. The company has a market cap of $3.68 billion, a PE ratio of 36.88, a P/E/G ratio of 7.13 and a beta of 1.52. The company has a current ratio of 4.13, a quick ratio of 3.62 and a debt-to-equity ratio of 0.29.
In related news, CFO Emeka Chukwu sold 13,000 shares of the stock in a transaction that occurred on Friday, July 13th. The shares were sold at an average price of $50.13, for a total value of $651,690.00. Following the transaction, the chief financial officer now directly owns 103,430 shares in the company, valued at $5,184,945.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James T. Lindstrom sold 2,500 shares of the stock in a transaction that occurred on Wednesday, July 11th. The shares were sold at an average price of $48.81, for a total transaction of $122,025.00. Following the completion of the transaction, the director now owns 24,178 shares in the company, valued at $1,180,128.18. The disclosure for this sale can be found here. Insiders sold 56,886 shares of company stock worth $3,187,982 over the last 90 days. 2.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank raised its holdings in Semtech by 12.0% in the second quarter. Amalgamated Bank now owns 10,549 shares of the semiconductor company’s stock worth $496,000 after purchasing an additional 1,133 shares during the period. Mason Street Advisors LLC raised its holdings in Semtech by 6.9% in the first quarter. Mason Street Advisors LLC now owns 18,409 shares of the semiconductor company’s stock worth $719,000 after purchasing an additional 1,191 shares during the period. Victory Capital Management Inc. raised its holdings in Semtech by 1.9% in the second quarter. Victory Capital Management Inc. now owns 64,019 shares of the semiconductor company’s stock worth $3,012,000 after purchasing an additional 1,197 shares during the period. Scout Investments Inc. raised its holdings in Semtech by 0.7% in the second quarter. Scout Investments Inc. now owns 161,472 shares of the semiconductor company’s stock worth $7,597,000 after purchasing an additional 1,198 shares during the period. Finally, Piedmont Investment Advisors LLC raised its holdings in Semtech by 8.6% in the second quarter. Piedmont Investment Advisors LLC now owns 15,404 shares of the semiconductor company’s stock worth $725,000 after purchasing an additional 1,220 shares during the period. Institutional investors own 96.53% of the company’s stock.
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.
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