Semtech (NASDAQ:SMTC) Given New $100.00 Price Target at Susquehanna

Semtech (NASDAQ:SMTC) had its price objective upped by investment analysts at Susquehanna from $90.00 to $100.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price target indicates a potential upside of 25.98% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 target price on shares of Semtech in a research note on Tuesday, November 25th. Stifel Nicolaus boosted their price target on Semtech from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. UBS Group restated a “buy” rating on shares of Semtech in a research note on Tuesday, November 25th. B. Riley Financial raised their price objective on Semtech from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Finally, Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 26th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.79.

Semtech Stock Down 3.2%

Shares of SMTC stock traded down $2.64 during mid-day trading on Monday, reaching $79.38. 138,788 shares of the company’s stock traded hands, compared to its average volume of 1,445,968. The company’s 50-day moving average price is $82.62 and its 200-day moving average price is $72.77. The company has a market cap of $7.35 billion, a P/E ratio of 256.06 and a beta of 1.99. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.87. Semtech has a 12 month low of $24.05 and a 12 month high of $96.46.

Insider Activity at Semtech

In other Semtech news, insider John Michael Wilson sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $75.12, for a total transaction of $375,600.00. Following the completion of the sale, the insider directly owned 60,066 shares in the company, valued at $4,512,157.92. The trade was a 7.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Saar Gillai sold 3,600 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $75.26, for a total transaction of $270,936.00. Following the sale, the director directly owned 9,523 shares of the company’s stock, valued at $716,700.98. The trade was a 27.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,967 shares of company stock valued at $2,236,108 in the last 90 days. 0.48% of the stock is owned by company insiders.

Institutional Trading of Semtech

Several large investors have recently added to or reduced their stakes in SMTC. Jones Financial Companies Lllp increased its holdings in Semtech by 12,214.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock worth $89,000 after acquiring an additional 2,565 shares in the last quarter. Empowered Funds LLC lifted its holdings in Semtech by 11.5% during the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 968 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Semtech by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock worth $14,166,000 after purchasing an additional 22,629 shares during the period. Strs Ohio purchased a new stake in shares of Semtech in the first quarter worth $65,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Semtech by 24.7% in the second quarter. Envestnet Asset Management Inc. now owns 36,205 shares of the semiconductor company’s stock worth $1,634,000 after purchasing an additional 7,161 shares in the last quarter.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.