Semtech (NASDAQ:SMTC) Given New $36.00 Price Target at Craig Hallum

Semtech (NASDAQ:SMTC) had its price objective increased by Craig Hallum from $30.00 to $36.00 in a report released on Monday morning, MarketBeat.com reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Roth Mkm dropped their price objective on Semtech from $46.00 to $42.00 and set a buy rating for the company in a research note on Thursday, December 7th. Stifel Nicolaus lifted their price objective on Semtech from $22.00 to $26.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Needham & Company LLC lifted their price objective on Semtech from $26.00 to $38.00 and gave the company a buy rating in a research note on Monday. Susquehanna boosted their target price on Semtech from $25.00 to $30.00 and gave the stock a positive rating in a research note on Thursday, March 14th. Finally, Robert W. Baird reissued an outperform rating and set a $40.00 target price on shares of Semtech in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $39.35.

Semtech Trading Up 6.8 %

Shares of NASDAQ SMTC opened at $29.37 on Monday. Semtech has a twelve month low of $13.13 and a twelve month high of $30.84. The company has a current ratio of 2.39, a quick ratio of 1.72 and a debt-to-equity ratio of 4.11. The stock has a fifty day simple moving average of $21.90 and a 200-day simple moving average of $20.48. The stock has a market capitalization of $1.89 billion, a PE ratio of -1.73, a PEG ratio of 16.04 and a beta of 1.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SMTC. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Semtech during the 1st quarter worth about $248,000. Bank of Montreal Can boosted its position in shares of Semtech by 24.8% during the 1st quarter. Bank of Montreal Can now owns 5,486 shares of the semiconductor company’s stock worth $397,000 after acquiring an additional 1,089 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Semtech by 2.2% in the 1st quarter. Rhumbline Advisers now owns 180,638 shares of the semiconductor company’s stock valued at $12,525,000 after purchasing an additional 3,874 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Semtech by 10.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,975 shares of the semiconductor company’s stock valued at $1,662,000 after purchasing an additional 2,265 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Semtech by 3.7% in the 1st quarter. BlackRock Inc. now owns 7,160,578 shares of the semiconductor company’s stock valued at $496,515,000 after purchasing an additional 257,224 shares during the last quarter.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.