Semtech Co. (SMTC) Receives $57.89 Average PT from Analysts
Semtech Co. (NASDAQ:SMTC) has earned an average rating of “Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $56.90.
A number of research analysts have recently weighed in on SMTC shares. B. Riley lifted their price objective on Semtech from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. ValuEngine raised Semtech from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 22nd. Zacks Investment Research raised Semtech from a “sell” rating to a “hold” rating in a research report on Friday, February 1st. BidaskClub cut Semtech from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Loop Capital raised Semtech to a “buy” rating in a research report on Monday, March 18th.
Shares of Semtech stock traded up $0.74 during trading hours on Friday, reaching $48.77. 12,767 shares of the stock traded hands, compared to its average volume of 333,244. The company has a market cap of $3.15 billion, a P/E ratio of 36.72, a P/E/G ratio of 3.09 and a beta of 1.65. Semtech has a one year low of $41.28 and a one year high of $60.55. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28.
In related news, CFO Emeka Chukwu sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $53.86, for a total value of $59,246.00. Following the transaction, the chief financial officer now directly owns 127,886 shares of the company’s stock, valued at approximately $6,887,939.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James Jungsup Kim sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $57.37, for a total value of $143,425.00. Following the completion of the transaction, the senior vice president now directly owns 41,375 shares in the company, valued at $2,373,683.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,614 shares of company stock worth $6,667,466. 1.96% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of SMTC. Oregon Public Employees Retirement Fund purchased a new stake in shares of Semtech during the 4th quarter worth approximately $25,000. Norges Bank purchased a new stake in shares of Semtech during the 4th quarter worth approximately $40,233,000. JPMorgan Chase & Co. raised its holdings in shares of Semtech by 524.7% during the 1st quarter. JPMorgan Chase & Co. now owns 873,124 shares of the semiconductor company’s stock worth $44,450,000 after acquiring an additional 733,351 shares in the last quarter. FMR LLC raised its holdings in shares of Semtech by 16.2% during the 4th quarter. FMR LLC now owns 4,114,152 shares of the semiconductor company’s stock worth $188,717,000 after acquiring an additional 573,087 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of Semtech by 518.6% during the 1st quarter. Fiera Capital Corp now owns 671,903 shares of the semiconductor company’s stock worth $34,206,000 after acquiring an additional 563,292 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications 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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