Semtech (NASDAQ:SMTC) Earns Buy Rating from Analysts at TD Cowen

TD Cowen initiated coverage on shares of Semtech (NASDAQ:SMTC) in a research note released on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $75.00 price target on the semiconductor company’s stock.

SMTC has been the topic of a number of other reports. Northland Securities boosted their target price on shares of Semtech from $48.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, August 26th. Craig Hallum boosted their target price on shares of Semtech from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Oppenheimer raised shares of Semtech from a “market perform” rating to an “outperform” rating and set a $81.00 target price on the stock in a report on Tuesday. Stifel Nicolaus boosted their target price on shares of Semtech from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Finally, Benchmark boosted 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. Fourteen research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.36.

Semtech Trading Down 1.3%

SMTC opened at $72.00 on Wednesday. Semtech has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.53 and a quick ratio of 1.78. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 300.00 and a beta of 2.01. The company’s 50 day moving average price is $57.48 and its two-hundred day moving average price is $44.88.

Insider Buying and Selling

In related news, Director Martin Burvill sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total transaction of $219,625.00. Following the transaction, the director 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Lin sold 971 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $72.83, for a total transaction of $70,717.93. Following the transaction, the chief financial officer owned 17,844 shares in the company, valued at $1,299,578.52. The trade was a 5.16% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in shares of Semtech by 4.2% during the 1st quarter. Principal Financial Group Inc. now owns 427,958 shares of the semiconductor company’s stock valued at $14,722,000 after acquiring an additional 17,345 shares during the period. Deutsche Bank AG lifted its position in shares of Semtech by 168.1% during the 1st quarter. Deutsche Bank AG now owns 1,210,078 shares of the semiconductor company’s stock valued at $41,627,000 after acquiring an additional 758,642 shares during the period. Wellington Management Group LLP lifted its position in shares of Semtech by 7.9% during the 1st quarter. Wellington Management Group LLP now owns 2,313,213 shares of the semiconductor company’s stock valued at $79,575,000 after acquiring an additional 170,132 shares during the period. Paradigm Capital Management Inc. NY acquired a new position in Semtech during the first quarter worth $6,591,000. Finally, KBC Group NV raised its holdings in Semtech by 16.8% during the first quarter. KBC Group NV now owns 4,084 shares of the semiconductor company’s stock worth $140,000 after buying an additional 586 shares during the last quarter.

Semtech Company Profile

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.