Semtech (NASDAQ:SMTC) PT Raised to $55.00 at Susquehanna

Semtech (NASDAQ:SMTC) had its target price raised by Susquehanna from $45.00 to $55.00 in a research note issued to investors on Thursday, Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

SMTC has been the subject of several other research reports. Oppenheimer reaffirmed a market perform rating on shares of Semtech in a research report on Monday, April 1st. Craig Hallum upped their target price on Semtech from $36.00 to $48.00 and gave the stock a buy rating in a research report on Thursday. Northland Securities upped their target price on Semtech from $30.00 to $36.50 and gave the stock an outperform rating in a research report on Monday, April 1st. Robert W. Baird upped their target price on Semtech from $40.00 to $50.00 and gave the stock an outperform rating in a research report on Monday, April 1st. Finally, Piper Sandler reaffirmed an overweight rating and issued a $60.00 target price (up previously from $40.00) on shares of Semtech in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $48.90.

Semtech Price Performance

Shares of Semtech stock opened at $31.18 on Thursday. Semtech has a twelve month low of $13.13 and a twelve month high of $46.86. The stock has a market capitalization of $2.02 billion, a P/E ratio of -1.84 and a beta of 1.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11. The business’s fifty day moving average price is $36.48 and its 200 day moving average price is $26.24.

Semtech (NASDAQ:SMTC) last issued its earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). Semtech had a negative net margin of 129.52% and a negative return on equity of 154.99%. The firm had revenue of $192.95 million during the quarter, compared to analyst estimates of $191.24 million. As a group, research analysts anticipate that Semtech will post -0.08 earnings per share for the current year.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin acquired 1,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were purchased at an average price of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the purchase, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $33,230. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 company. GAMMA Investing LLC raised its position in shares of Semtech by 83.9% during the 1st quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 773 shares during the period. Texas Permanent School Fund Corp raised its position in shares of Semtech by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,053 shares of the semiconductor company’s stock worth $1,541,000 after purchasing an additional 875 shares during the period. ProShare Advisors LLC raised its position in shares of Semtech by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 12,902 shares of the semiconductor company’s stock worth $355,000 after purchasing an additional 893 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Semtech during the 1st quarter worth approximately $27,000. Finally, Versant Capital Management Inc raised its position in shares of Semtech by 205.0% during the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 1,259 shares during the period.

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.