Semtech Co. (NASDAQ:SMTC) Receives Consensus Rating of “Moderate Buy” from Analysts

Semtech Co. (NASDAQ:SMTC) has received an average rating of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $67.91.

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus dropped their target price on Semtech from $75.00 to $70.00 and set a “buy” rating for the company in a report on Monday, February 10th. Craig Hallum increased their target price on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler restated an “overweight” rating and issued a $55.00 price target (down from $75.00) on shares of Semtech in a research report on Monday, February 10th. UBS Group assumed coverage on shares of Semtech in a research report on Friday, January 17th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Roth Mkm boosted their price target on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 25th.

Semtech Stock Performance

NASDAQ:SMTC opened at $35.58 on Tuesday. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -2.73, a PEG ratio of 2.12 and a beta of 1.64. The company has a 50-day moving average of $56.99 and a 200-day moving average of $51.47. Semtech has a 52 week low of $21.48 and a 52 week high of $79.52.

Insiders Place Their Bets

In other news, SVP Imran Sherazi sold 2,946 shares of Semtech stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total transaction of $186,481.80. Following the completion of the sale, the senior vice president now owns 6,317 shares in the company, valued at $399,866.10. The trade was a 31.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Lin sold 6,114 shares of Semtech stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the sale, the chief financial officer now owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. This represents a 63.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,747 shares of company stock valued at $1,095,061. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Semtech

Several hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Semtech in the fourth quarter valued at about $15,131,000. Jefferies Financial Group Inc. boosted its position in shares of Semtech by 62.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 77,659 shares of the semiconductor company’s stock worth $4,803,000 after buying an additional 29,723 shares during the period. Mackenzie Financial Corp boosted its position in shares of Semtech by 44.2% during the fourth quarter. Mackenzie Financial Corp now owns 39,824 shares of the semiconductor company’s stock worth $2,463,000 after buying an additional 12,211 shares during the period. Castleark Management LLC acquired a new position in shares of Semtech during the fourth quarter worth about $7,555,000. Finally, Whale Rock Capital Management LLC boosted its position in shares of Semtech by 364.2% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company’s stock worth $202,015,000 after buying an additional 2,562,602 shares during the period.

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.