Semtech (NASDAQ:SMTC) Price Target Raised to $85.00

Semtech (NASDAQ:SMTC) had its price objective upped by UBS Group from $65.00 to $85.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research firms have also commented on SMTC. Piper Sandler boosted their price target on shares of Semtech from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Benchmark increased their target price on shares of Semtech from $68.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Northland Securities raised their target price on shares of Semtech from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, August 26th. TD Cowen began coverage on shares of Semtech in a research report on Wednesday, October 1st. They set a “buy” rating and a $75.00 price target for the company. Finally, Wall Street Zen raised shares of Semtech from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 18th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.50.

Semtech Price Performance

Shares of NASDAQ SMTC opened at $69.56 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.53 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $6.04 billion, a PE ratio of 289.83 and a beta of 2.01. The stock’s 50 day moving average price is $63.82 and its 200-day moving average price is $49.48. Semtech has a twelve month low of $24.05 and a twelve month high of $79.52.

Insider Buying and Selling at Semtech

In other news, Director Martin Burvill sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total value of $219,625.00. Following the sale, the director directly owned 6,909 shares in the company, valued at $433,539.75. The trade was a 33.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Lin sold 971 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $72.83, for a total transaction of $70,717.93. Following the completion of the sale, the chief financial officer owned 17,844 shares in the company, valued at approximately $1,299,578.52. This trade represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 4,971 shares of company stock worth $323,463. Insiders own 0.48% of the company’s stock.

Institutional Trading of Semtech

A number of large investors have recently made changes to their positions in SMTC. KBC Group NV boosted its stake in shares of Semtech by 16.8% during the 1st quarter. KBC Group NV now owns 4,084 shares of the semiconductor company’s stock worth $140,000 after purchasing an additional 586 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Semtech in the 1st quarter worth approximately $430,000. Principal Financial Group Inc. lifted its position in shares of Semtech by 4.2% in the 1st quarter. Principal Financial Group Inc. now owns 427,958 shares of the semiconductor company’s stock worth $14,722,000 after purchasing an additional 17,345 shares during the period. Moody Aldrich Partners LLC raised its stake in shares of Semtech by 75.6% during the 1st quarter. Moody Aldrich Partners LLC now owns 98,904 shares of the semiconductor company’s stock worth $3,402,000 after acquiring an additional 42,587 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Semtech by 23.3% during the 1st quarter. CWM LLC now owns 3,751 shares of the semiconductor company’s stock worth $129,000 after acquiring an additional 709 shares in the last quarter.

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.