Stifel Nicolaus Increases Semtech (NASDAQ:SMTC) Price Target to $36.00

Semtech (NASDAQ:SMTC) had its target price increased by stock analysts at Stifel Nicolaus from $31.00 to $36.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 15.94% from the company’s previous close.

Several other brokerages also recently issued reports on SMTC. Oppenheimer restated a “market perform” rating on shares of Semtech in a research report on Monday, April 1st. Craig Hallum lifted their price objective on Semtech from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Robert W. Baird lifted their target price on shares of Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Needham & Company LLC lifted their target price on shares of Semtech from $26.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Northland Securities lifted their target price on shares of Semtech from $30.00 to $36.50 and gave the stock an “outperform” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.85.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $31.05 on Thursday. The company has a 50-day moving average price of $25.28 and a 200 day moving average price of $21.24. Semtech has a 52 week low of $13.13 and a 52 week high of $35.80. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 4.11. The company has a market cap of $2.00 billion, a P/E ratio of -1.83 and a beta of 1.85.

Insider Buying and Selling at Semtech

In related news, CFO Mark Lin purchased 1,000 shares of Semtech stock in a transaction dated Monday, April 8th. The shares were acquired at an average price of $33.23 per share, with a total value of $33,230.00. Following the completion of the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $33,230. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Semtech

Large investors have recently bought and sold shares of the business. Ethic Inc. increased its stake in shares of Semtech by 7.6% in the first quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock valued at $315,000 after purchasing an additional 320 shares during the period. Zebra Capital Management LLC increased its stake in shares of Semtech by 10.5% in the first quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 327 shares during the period. Credit Suisse AG increased its stake in shares of Semtech by 0.6% in the fourth quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company’s stock valued at $1,773,000 after purchasing an additional 347 shares during the period. Bridgefront Capital LLC increased its stake in shares of Semtech by 14.7% in the first quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company’s stock valued at $204,000 after purchasing an additional 377 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Semtech by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company’s stock valued at $660,000 after acquiring an additional 399 shares during the period.

Semtech Company Profile

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.