Semtech (NASDAQ:SMTC) Price Target Raised to $36.00 at Stifel Nicolaus

Semtech (NASDAQ:SMTC) had its price objective boosted by Stifel Nicolaus from $31.00 to $36.00 in a research note issued to investors on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also recently weighed in on SMTC. Oppenheimer reiterated a market perform rating on shares of Semtech in a research report on Monday, April 1st. Susquehanna lifted their price target on Semtech from $30.00 to $45.00 and gave the company a positive rating in a research report on Monday, April 1st. Northland Securities lifted their price target on Semtech from $30.00 to $36.50 and gave the company an outperform rating in a research report on Monday, April 1st. Needham & Company LLC lifted their price target on Semtech from $26.00 to $38.00 and gave the company a buy rating in a research report on Monday, April 1st. Finally, Craig Hallum lifted their price target on Semtech from $30.00 to $36.00 and gave the company a buy rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Semtech presently has a consensus rating of Moderate Buy and an average price target of $39.85.

Semtech Price Performance

Shares of NASDAQ SMTC opened at $32.05 on Thursday. Semtech has a fifty-two week low of $13.13 and a fifty-two week high of $35.80. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11. The stock has a fifty day moving average of $25.08 and a 200-day moving average of $21.20.

Insiders Place Their Bets

In other news, CFO Mark Lin purchased 1,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was purchased at an average price of $33.23 per share, with a total value of $33,230.00. Following the completion of the purchase, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $33,230. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Semtech

Several hedge funds have recently added to or reduced their stakes in SMTC. BlackRock Inc. lifted its stake in Semtech by 29.7% during the first quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock worth $291,861,000 after purchasing an additional 2,769,314 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of Semtech in the 4th quarter valued at about $43,504,000. Ameriprise Financial Inc. lifted its stake in shares of Semtech by 58.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock valued at $101,927,000 after acquiring an additional 1,466,665 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Semtech by 1,084.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 999,400 shares of the semiconductor company’s stock valued at $25,445,000 after acquiring an additional 915,000 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Semtech by 374.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,148,681 shares of the semiconductor company’s stock valued at $25,168,000 after acquiring an additional 906,430 shares during the last quarter.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.