Semtech Co. (NASDAQ:SMTC) Receives $67.91 Consensus Target Price from Analysts

Semtech Co. (NASDAQ:SMTC) has been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $67.91.

A number of equities research analysts recently commented on SMTC shares. Piper Sandler reissued an “overweight” rating and set a $55.00 target price (down previously from $75.00) on shares of Semtech in a research report on Monday, February 10th. Susquehanna increased their price target on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Northland Securities lifted their price target on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. B. Riley upped their price objective on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC cut their price target on shares of Semtech from $74.00 to $54.00 and set a “buy” rating for the company in a report on Monday, February 10th.

Insider Activity

In other Semtech news, CFO Mark Lin sold 10,890 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total value of $377,665.20. Following the transaction, the chief financial officer now directly owns 11,625 shares in the company, valued at $403,155. This represents a 48.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction on 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 transaction, the senior vice president now directly owns 14 shares in the company, valued at $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,637 shares of company stock valued at $1,472,726. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Semtech by 13.0% in the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock valued at $713,906,000 after buying an additional 1,326,226 shares during the period. Hood River Capital Management LLC boosted its position in shares of Semtech by 1.8% during the 4th quarter. Hood River Capital Management LLC now owns 3,450,042 shares of the semiconductor company’s stock worth $213,385,000 after purchasing an additional 59,743 shares in the last quarter. Whale Rock Capital Management LLC grew its stake in shares of Semtech by 364.2% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company’s stock worth $202,015,000 after purchasing an additional 2,562,602 shares during the period. Disciplined Growth Investors Inc. MN boosted its holdings in Semtech by 4.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after buying an additional 114,999 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Semtech by 827.0% during the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock worth $132,550,000 after buying an additional 1,911,890 shares during the period.

Semtech Stock Performance

NASDAQ SMTC opened at $31.44 on Tuesday. Semtech has a 52-week low of $21.56 and a 52-week high of $79.52. The firm’s 50 day moving average price is $54.00 and its 200-day moving average price is $51.40. The company has a market cap of $2.38 billion, a PE ratio of -2.41, a P/E/G ratio of 2.12 and a beta of 1.69.

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.