Semtech Co. (NASDAQ:SMTC) Receives $67.91 Consensus PT from Analysts

Semtech Co. (NASDAQ:SMTC) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $67.91.

Several research analysts recently issued reports on SMTC shares. Piper Sandler restated an “overweight” rating and set a $55.00 price objective (down from $75.00) on shares of Semtech in a research report on Monday, February 10th. Susquehanna upped their price objective on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Roth Mkm lifted their price objective on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Needham & Company LLC decreased their price target on shares of Semtech from $74.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, UBS Group initiated coverage on shares of Semtech in a research report on Friday, January 17th. They issued a “buy” rating and a $85.00 price objective for the company.

Insider Transactions at Semtech

In other news, CFO Mark Lin sold 6,114 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total value of $401,934.36. Following the completion of the sale, the chief financial officer now owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. The trade was a 63.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the sale, the senior vice president now directly owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. This represents a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,637 shares of company stock valued at $1,472,726. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new stake in shares of Semtech during the 4th quarter worth about $31,000. Dunhill Financial LLC acquired a new position in shares of Semtech during the fourth quarter valued at approximately $31,000. Huntington National Bank raised its holdings in Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 505 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in Semtech during the 4th quarter valued at $52,000.

Semtech Trading Down 6.1 %

Shares of NASDAQ SMTC opened at $31.44 on Tuesday. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -2.41, a PEG ratio of 2.12 and a beta of 1.69. The company’s 50-day moving average price is $54.00 and its 200 day moving average price is $51.40. Semtech has a 52 week low of $21.56 and a 52 week high of $79.52.

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.