Semtech (NASDAQ:SMTC) Stock Rating Reaffirmed by Piper Sandler

Semtech (NASDAQ:SMTCGet Free Report)‘s stock had its “overweight” rating reiterated by Piper Sandler in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $40.00 target price on the semiconductor company’s stock, up from their prior target price of $30.00. Piper Sandler’s target price would suggest a potential upside of 41.89% from the company’s current price.

Other analysts have also issued research reports about the company. Susquehanna upped their target price on Semtech from $25.00 to $30.00 and gave the stock a “positive” rating in a report on Thursday, March 14th. Craig Hallum increased their price objective on Semtech from $30.00 to $36.00 and gave the company a “buy” rating in a report on Monday. Roth Mkm decreased their price objective on Semtech from $46.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, December 7th. Stifel Nicolaus increased their price objective on Semtech from $22.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Finally, Robert W. Baird reiterated an “outperform” rating and set a $40.00 price objective on shares of Semtech in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.35.

Check Out Our Latest Stock Analysis on SMTC

Semtech Stock Down 4.0 %

Semtech stock opened at $28.19 on Monday. The business has a fifty day moving average of $22.02 and a two-hundred day moving average of $20.50. The company has a quick ratio of 1.72, a current ratio of 2.39 and a debt-to-equity ratio of 4.11. The firm has a market cap of $1.81 billion, a P/E ratio of -1.66, a P/E/G ratio of 16.04 and a beta of 1.85. Semtech has a twelve month low of $13.13 and a twelve month high of $30.84.

Hedge Funds Weigh In On Semtech

Several hedge funds have recently made changes to their positions in the company. Ethic Inc. increased its position in shares of Semtech by 7.6% in the 1st quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock valued at $315,000 after acquiring an additional 320 shares during the period. Zebra Capital Management LLC increased its position in shares of Semtech by 10.5% in the 1st quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock valued at $240,000 after acquiring an additional 327 shares during the period. Credit Suisse AG grew its position in Semtech by 0.6% during the 4th quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company’s stock worth $1,773,000 after purchasing an additional 347 shares during the period. Bridgefront Capital LLC grew its position in Semtech by 14.7% during the 1st quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 377 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Semtech by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company’s stock worth $660,000 after purchasing an additional 399 shares during the period.

About Semtech

(Get Free Report)

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.

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