Brokerages Set Semtech Co. (NASDAQ:SMTC) Price Target at $71.09

Semtech Co. (NASDAQ:SMTC) has earned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $67.91.

Several research firms have recently commented on SMTC. B. Riley increased their price target on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Roth Mkm raised their price objective on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Northland Securities raised their price objective on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. UBS Group started coverage on shares of Semtech in a research note on Friday, January 17th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, Benchmark increased their target price on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th.

Insider Buying and Selling at Semtech

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the chief operating officer now directly owns 76,417 shares in the company, valued at approximately $5,349,190. The trade was a 2.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Lin sold 6,114 shares of Semtech stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36. Following the completion of the sale, the chief financial officer now owns 3,531 shares in the company, valued at $232,127.94. The trade was a 63.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,747 shares of company stock worth $1,095,061. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SMTC. Wellington Management Group LLP grew its position in shares of Semtech by 827.0% in the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock valued at $132,550,000 after acquiring an additional 1,911,890 shares during the period. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 1,326,226 shares during the period. Whale Rock Capital Management LLC bought a new position in shares of Semtech in the 3rd quarter valued at about $32,126,000. Portolan Capital Management LLC grew its position in shares of Semtech by 609.5% in the 4th quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company’s stock valued at $41,267,000 after acquiring an additional 573,175 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Semtech by 130.7% in the 3rd quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock valued at $37,633,000 after acquiring an additional 466,868 shares during the period.

Semtech Stock Performance

NASDAQ:SMTC opened at $36.73 on Friday. The firm’s 50-day moving average is $63.55 and its 200-day moving average is $50.65. Semtech has a 52-week low of $19.20 and a 52-week high of $79.52. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -2.81, a PEG ratio of 2.98 and a beta of 1.64.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 earnings per share.

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.