Robert W. Baird Cuts Semtech (NASDAQ:SMTC) Price Target to $60.00

Semtech (NASDAQ:SMTC) had its price target decreased by Robert W. Baird from $80.00 to $60.00 in a report published on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the semiconductor company’s stock.

A number of other equities analysts have also commented on the company. Benchmark lifted their price objective on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Needham & Company LLC lifted their price objective on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Roth Mkm boosted their price target on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Northland Securities boosted their price target on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, UBS Group assumed coverage on Semtech in a research note on Friday, January 17th. They issued a “buy” rating and a $85.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Semtech Stock Down 9.9 %

Semtech stock opened at $54.51 on Friday. Semtech has a 12-month low of $19.12 and a 12-month high of $79.52. The business’s 50-day moving average price is $65.85 and its two-hundred day moving average price is $50.74. The stock has a market cap of $4.13 billion, a PE ratio of -4.18, a P/E/G ratio of 2.98 and a beta of 1.64.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The business’s revenue was up 17.9% on a year-over-year basis.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 6,114 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the transaction, the chief financial officer now directly owns 3,531 shares in the company, valued at approximately $232,127.94. This represents a 63.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the transaction, the senior vice president now owns 14 shares in the company, valued at $1,050. This trade represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,747 shares of company stock valued at $1,095,061 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Semtech

Several institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank lifted its stake in shares of Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 505 shares during the period. NBC Securities Inc. lifted its stake in shares of Semtech by 115.8% in the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 739 shares during the period. AlphaQuest LLC lifted its stake in shares of Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 772 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Semtech by 4,464.9% during the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 1,652 shares during the last quarter.

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.