Semtech (NASDAQ:SMTC) Price Target Raised to $50.00 at Stifel Nicolaus

Semtech (NASDAQ:SMTC - Free Report) had its price target raised by Stifel Nicolaus from $43.00 to $50.00 in a report released on Thursday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company's stock.

A number of other analysts have also issued reports on SMTC. Needham & Company LLC lifted their price target on Semtech from $38.00 to $50.00 and gave the stock a buy rating in a research note on Thursday. Piper Sandler reaffirmed an overweight rating and issued a $60.00 price target (up from $40.00) on shares of Semtech in a research note on Wednesday, May 29th. Craig Hallum lifted their price target on Semtech from $36.00 to $48.00 and gave the stock a buy rating in a research note on Thursday. Oppenheimer reaffirmed a market perform rating on shares of Semtech in a research note on Monday, April 1st. Finally, Roth Mkm boosted their price objective on Semtech from $42.00 to $50.00 and gave the stock a buy rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $48.90.

Semtech Price Performance

SMTC traded down $0.70 during trading on Thursday, hitting $37.98. The company's stock had a trading volume of 6,631,563 shares, compared to its average volume of 1,912,831. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11. Semtech has a twelve month low of $13.13 and a twelve month high of $46.86. The business's fifty day simple moving average is $35.98 and its 200 day simple moving average is $25.96. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -2.28 and a beta of 1.63.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Semtech had a negative net margin of 125.70% and a negative return on equity of 9.41%. The business had revenue of $192.95 million during the quarter, compared to analyst estimates of $191.24 million. On average, equities research analysts forecast that Semtech will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling at Semtech

In other Semtech news, CFO Mark Lin bought 1,000 shares of Semtech stock in a transaction on Monday, April 8th. The shares were bought at an average price of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the transaction, the chief financial officer now directly owns 1,000 shares of the company's stock, valued at $33,230. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Semtech

Institutional investors and hedge funds have recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new stake in shares of Semtech in the 1st quarter valued at $27,000. GAMMA Investing LLC raised its holdings in shares of Semtech by 83.9% in the 1st quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company's stock valued at $47,000 after buying an additional 773 shares during the period. Versant Capital Management Inc raised its holdings in shares of Semtech by 205.0% in the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company's stock valued at $51,000 after buying an additional 1,259 shares during the period. Cape Investment Advisory Inc. purchased a new stake in shares of Semtech in the 4th quarter valued at $63,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Semtech by 67.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,652 shares of the semiconductor company's stock valued at $102,000 after buying an additional 1,871 shares during the period.

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.