Robert W. Baird Increases Semtech (NASDAQ:SMTC) Price Target to $50.00

Semtech (NASDAQ:SMTCGet Free Report) had its price objective hoisted by equities research analysts at Robert W. Baird from $40.00 to $50.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Robert W. Baird’s price objective points to a potential upside of 77.37% from the company’s previous close.

A number of other research analysts also recently issued reports on SMTC. Susquehanna increased their price objective on Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a report on Monday. Needham & Company LLC increased their price objective on Semtech from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Monday. Craig Hallum increased their price objective on Semtech from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler reiterated an “overweight” rating and set a $40.00 price objective (up from $30.00) on shares of Semtech in a report on Monday. Finally, Stifel Nicolaus increased their price objective on Semtech from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.35.

Get Our Latest Stock Analysis on Semtech

Semtech Stock Down 4.0 %

Shares of Semtech stock opened at $28.19 on Monday. Semtech has a 1 year low of $13.13 and a 1 year high of $30.84. The business has a 50-day moving average of $22.02 and a two-hundred day moving average of $20.50. The company has a market capitalization of $1.81 billion, a P/E ratio of -1.66, a price-to-earnings-growth ratio of 16.04 and a beta of 1.85. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.39 and a quick ratio of 1.72.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Semtech by 29.7% in the first quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock valued at $291,861,000 after purchasing an additional 2,769,314 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Semtech by 2.4% in the third quarter. Vanguard Group Inc. now owns 6,576,015 shares of the semiconductor company’s stock valued at $193,401,000 after buying an additional 151,730 shares during the last quarter. State Street Corp lifted its position in shares of Semtech by 16.1% in the second quarter. State Street Corp now owns 4,382,903 shares of the semiconductor company’s stock valued at $111,589,000 after buying an additional 606,593 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Semtech by 58.9% in the third quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock valued at $101,927,000 after buying an additional 1,466,665 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Semtech by 49.6% in the first quarter. Macquarie Group Ltd. now owns 2,180,522 shares of the semiconductor company’s stock valued at $52,638,000 after buying an additional 722,908 shares during the last quarter.

About Semtech

(Get Free Report)

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.

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