Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Susquehanna Analyst Says

Semtech (NASDAQ:SMTC) had its price objective lifted by investment analysts at Susquehanna from $90.00 to $100.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price would indicate a potential upside of 25.98% from the company’s previous close.

A number of other brokerages have also issued reports on SMTC. Morgan Stanley set a $67.00 price objective on shares of Semtech in a report on Tuesday, November 25th. Stifel Nicolaus increased their price objective on shares of Semtech from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Benchmark lifted their target price on shares of Semtech from $85.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Robert W. Baird boosted their target price on shares of Semtech from $70.00 to $88.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $81.00 price target on shares of Semtech in a research report on Tuesday, November 25th. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $82.79.

Semtech Stock Performance

NASDAQ:SMTC traded down $2.64 during mid-day trading on Monday, hitting $79.38. The stock had a trading volume of 138,788 shares, compared to its average volume of 1,445,968. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 256.06 and a beta of 1.99. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.71 and a current ratio of 2.43. Semtech has a twelve month low of $24.05 and a twelve month high of $96.46. The company’s 50 day simple moving average is $82.62 and its 200 day simple moving average is $72.77.

Insider Activity at Semtech

In other Semtech news, insider John Michael Wilson sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $75.12, for a total value of $375,600.00. Following the completion of the sale, the insider directly owned 60,066 shares in the company, valued at approximately $4,512,157.92. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Asaf Silberstein sold 10,000 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $92.00, for a total transaction of $920,000.00. Following the transaction, the chief operating officer directly owned 68,496 shares in the company, valued at $6,301,632. This trade represents a 12.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 26,967 shares of company stock worth $2,236,108 over the last ninety days. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of Semtech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMTC. Vanguard Group Inc. boosted its holdings in shares of Semtech by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock worth $873,842,000 after buying an additional 298,987 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Semtech by 3.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock valued at $526,861,000 after purchasing an additional 261,647 shares during the period. Capital Research Global Investors grew its position in shares of Semtech by 13.9% during the 3rd quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock valued at $335,220,000 after purchasing an additional 571,372 shares in the last quarter. State Street Corp increased its holdings in shares of Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after purchasing an additional 60,788 shares during the period. Finally, Whale Rock Capital Management LLC raised its position in shares of Semtech by 11.3% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock worth $287,499,000 after buying an additional 396,504 shares in the last quarter.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.