Wells Fargo & Co reiterated their outperform rating on shares of Semtech (NASDAQ:SMTC) in a research report report published on Thursday, BenzingaRatingsTable reports. The firm currently has a $55.00 target price on the semiconductor company’s stock, down from their previous target price of $60.00.
Other research analysts also recently issued research reports about the stock. Oppenheimer reissued a buy rating and issued a $52.00 target price on shares of Semtech in a research note on Wednesday, November 27th. Craig Hallum decreased their price target on shares of Semtech from $9.00 to $6.00 in a research note on Monday, September 23rd. Robert W. Baird set a $45.00 price target on shares of Semtech and gave the stock a buy rating in a report on Monday, August 26th. BidaskClub lowered shares of Semtech from a hold rating to a sell rating in a research report on Saturday, November 23rd. Finally, ValuEngine raised shares of Semtech from a buy rating to a strong-buy rating in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $47.64.
Semtech stock traded up $1.45 during mid-day trading on Thursday, hitting $47.41. 742,664 shares of the company were exchanged, compared to its average volume of 560,805. Semtech has a 12-month low of $39.54 and a 12-month high of $57.96. The company has a market capitalization of $3.06 billion, a P/E ratio of 35.65, a PEG ratio of 3.92 and a beta of 1.91. The business’s 50 day simple moving average is $50.48 and its two-hundred day simple moving average is $47.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.10 and a quick ratio of 3.42.
In other news, VP Alisair Fulton sold 709 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $49.38, for a total transaction of $35,010.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Asaf Silberstein sold 6,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $55.00, for a total transaction of $330,000.00. Following the transaction, the executive vice president now owns 50,653 shares in the company, valued at $2,785,915. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,717 shares of company stock worth $1,262,791. 1.96% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SMTC. Point72 Hong Kong Ltd increased its stake in Semtech by 28.1% during the second quarter. Point72 Hong Kong Ltd now owns 1,450 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 318 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Semtech in the 2nd quarter valued at about $86,000. Marshall Wace LLP purchased a new stake in shares of Semtech during the 2nd quarter worth about $203,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Semtech by 8.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,346 shares of the semiconductor company’s stock worth $211,000 after purchasing an additional 347 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Semtech by 969.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,314 shares of the semiconductor company’s stock worth $255,000 after purchasing an additional 4,817 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.
Semtech Company Profile
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications 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.
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