Semtech (NASDAQ:SMTC) Price Target Raised to $80.00

Semtech (NASDAQ:SMTC) had its target price hoisted by Susquehanna from $65.00 to $80.00 in a research report sent to investors on Tuesday morning, MarketBeat reports. The firm currently has a positive rating on the semiconductor company’s stock.

SMTC has been the subject of several other reports. TD Cowen assumed coverage on shares of Semtech in a research note on Wednesday, October 1st. They set a “buy” rating and a $75.00 price target for the company. UBS Group raised their target price on shares of Semtech from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Semtech in a research report on Wednesday, October 8th. Craig Hallum increased their price objective on shares of Semtech from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen downgraded Semtech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.93.

Semtech Stock Performance

Shares of Semtech stock opened at $62.57 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.53 and a quick ratio of 1.78. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 260.71 and a beta of 2.03. The stock’s 50-day moving average is $66.96 and its 200-day moving average is $53.69. Semtech has a one year low of $24.05 and a one year high of $79.52.

Insider Activity

In related news, CFO Mark Lin sold 971 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $72.83, for a total value of $70,717.93. Following the completion of the sale, the chief financial officer directly owned 17,844 shares in the company, valued at approximately $1,299,578.52. This trade represents a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Martin Burvill sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total value of $219,625.00. Following the transaction, the director directly owned 6,909 shares in the company, valued at approximately $433,539.75. This trade represents a 33.62% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 4,971 shares of company stock valued at $323,463. 0.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Semtech

Several hedge funds have recently added to or reduced their stakes in the business. Danske Bank A S acquired a new position in shares of Semtech in the third quarter valued at $952,000. Hancock Whitney Corp acquired a new stake in shares of Semtech during the 3rd quarter worth about $493,000. NewEdge Advisors LLC boosted its holdings in shares of Semtech by 1,215.4% during the 3rd quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock worth $61,000 after buying an additional 790 shares during the period. Castleark Management LLC acquired a new position in Semtech in the 3rd quarter valued at about $3,975,000. Finally, Verition Fund Management LLC lifted its position in Semtech by 26.3% during the third quarter. Verition Fund Management LLC now owns 41,031 shares of the semiconductor company’s stock worth $2,932,000 after acquiring an additional 8,541 shares during the last quarter.

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.