Semtech Corporation (NASDAQ:SMTC) Given Average Rating of “Moderate Buy” by Brokerages

Semtech Corporation (NASDAQ:SMTCGet Free Report) has been given a consensus rating of “Moderate Buy” by the sixteen analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $65.3571.

A number of equities analysts have commented on SMTC shares. Cowen started coverage on shares of Semtech in a research report on Tuesday, September 30th. They set a “buy” rating for the company. Northland Securities upped their price objective on shares of Semtech from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 26th. TD Cowen began coverage on shares of Semtech in a research report on Wednesday, October 1st. They set a “buy” rating and a $75.00 price objective for the company. Piper Sandler upped their price target on shares of Semtech from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen raised shares of Semtech from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

Check Out Our Latest Report on SMTC

Insiders Place Their Bets

In other news, CFO Mark Lin sold 971 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $72.83, for a total transaction of $70,717.93. Following the transaction, the chief financial officer directly owned 17,844 shares of the company’s stock, valued at $1,299,578.52. This represents a 5.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martin Burvill sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Semtech

A number of large investors have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC acquired a new stake in Semtech in the 3rd quarter valued at about $41,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Semtech during the 3rd quarter worth about $9,160,000. JB Capital LLC acquired a new stake in shares of Semtech during the 3rd quarter worth about $4,529,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Semtech by 26.6% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 10,000 shares of the semiconductor company’s stock worth $714,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Semtech by 637.3% during the 3rd quarter. Pacer Advisors Inc. now owns 11,620 shares of the semiconductor company’s stock worth $830,000 after purchasing an additional 10,044 shares during the last quarter.

Semtech Stock Down 1.2%

Shares of Semtech stock opened at $67.74 on Wednesday. The company has a market cap of $5.88 billion, a P/E ratio of 282.25 and a beta of 2.01. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.78 and a current ratio of 2.53. Semtech has a one year low of $24.05 and a one year high of $79.52. The firm has a fifty day moving average of $61.59 and a two-hundred day moving average of $47.62.

Semtech Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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