Semtech Corporation (NASDAQ:SMTC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Semtech Corporation (NASDAQ:SMTC) have earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $58.58.

Several research firms have commented on SMTC. UBS Group decreased their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $54.00 target price on shares of Semtech in a research report on Wednesday, May 28th. Stifel Nicolaus boosted their target price on shares of Semtech from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Craig Hallum decreased their target price on shares of Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Semtech in a research report on Wednesday, May 28th.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 2,907 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the sale, the chief financial officer now directly owns 13,481 shares of the company’s stock, valued at $508,368.51. This represents a 17.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Semtech

Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in Semtech by 15.8% in the 4th quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company’s stock valued at $25,396,000 after purchasing an additional 56,108 shares during the period. Rhumbline Advisers boosted its holdings in Semtech by 6.1% in the 4th quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company’s stock valued at $12,702,000 after purchasing an additional 11,878 shares during the period. Convergence Investment Partners LLC bought a new position in Semtech in the fourth quarter worth $2,680,000. Stephens Inc. AR acquired a new stake in Semtech during the fourth quarter worth $889,000. Finally, Essential Planning LLC. acquired a new stake in Semtech during the fourth quarter worth $1,069,000.

Semtech Stock Performance

SMTC stock opened at $41.91 on Thursday. The company has a quick ratio of 1.81, a current ratio of 2.53 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -20.34 and a beta of 1.88. Semtech has a 12 month low of $24.05 and a 12 month high of $79.52. The firm has a 50 day moving average of $34.98 and a two-hundred day moving average of $45.79.

About Semtech

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.