Brokerages Set Semtech Co. (NASDAQ:SMTC) PT at $67.91

Semtech Co. (NASDAQ:SMTC) has been assigned an average rating of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $67.91.

SMTC has been the subject of several recent analyst reports. Northland Securities boosted their price target on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Benchmark boosted their price target on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Roth Mkm boosted their price target on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Craig Hallum boosted their price target on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, B. Riley lifted their target price on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $33.50 on Tuesday. The firm has a market cap of $2.54 billion, a PE ratio of -2.57, a PEG ratio of 2.12 and a beta of 1.69. The firm has a fifty day moving average of $54.60 and a 200 day moving average of $51.32. Semtech has a one year low of $21.56 and a one year high of $79.52.

Insider Activity

In related 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 sale, the chief financial officer now directly owns 3,531 shares in the company, valued at approximately $232,127.94. The trade was a 63.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the completion of the sale, the senior vice president now owns 14 shares in the company, valued at approximately $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, 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 Trading of Semtech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank increased its stake 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 during the period. Quadrant Capital Group LLC increased its stake in Semtech by 27.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 337 shares during the period. GAMMA Investing LLC increased its stake in Semtech by 15.3% during the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock worth $196,000 after purchasing an additional 421 shares during the period. Hanseatic Management Services Inc. increased its stake in Semtech by 3.2% during the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 447 shares during the period. Finally, Hollencrest Capital Management purchased a new stake in Semtech during the fourth quarter worth about $31,000.

Semtech Company Profile

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.