Craig Hallum Boosts Semtech (NASDAQ:SMTC) Price Target to $36.00

Semtech (NASDAQ:SMTCFree Report) had its price objective increased by Craig Hallum from $30.00 to $36.00 in a research report sent to investors on Monday morning, MarketBeat.com reports. Craig Hallum currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on SMTC. Needham & Company LLC raised their target price on shares of Semtech from $26.00 to $38.00 and gave the company a buy rating in a research note on Monday. Robert W. Baird reissued an outperform rating and issued a $40.00 target price on shares of Semtech in a research note on Tuesday, March 26th. Roth Mkm cut their target price on shares of Semtech from $46.00 to $42.00 and set a buy rating on the stock in a research note on Thursday, December 7th. Stifel Nicolaus raised their target price on shares of Semtech from $22.00 to $26.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Finally, Susquehanna lifted their price target on shares of Semtech from $25.00 to $30.00 and gave the stock a positive rating in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $39.35.

View Our Latest Research Report on Semtech

Semtech Stock Performance

Shares of SMTC stock opened at $31.48 on Monday. The company’s fifty day simple moving average is $22.21 and its 200-day simple moving average is $20.57. Semtech has a 52 week low of $13.13 and a 52 week high of $32.23. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 4.11. The company has a market cap of $2.02 billion, a PE ratio of -1.85, a P/E/G ratio of 17.13 and a beta of 1.85.

Institutional Investors Weigh In On Semtech

Several hedge funds and other institutional investors have recently modified their holdings of SMTC. BlackRock Inc. increased its position in shares of Semtech by 29.7% in the 1st quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock worth $291,861,000 after purchasing an additional 2,769,314 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of Semtech in the 4th quarter worth about $43,504,000. Ameriprise Financial Inc. increased its position in shares of Semtech by 58.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock worth $101,927,000 after purchasing an additional 1,466,665 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Semtech by 1,084.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 999,400 shares of the semiconductor company’s stock worth $25,445,000 after purchasing an additional 915,000 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Semtech by 374.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,148,681 shares of the semiconductor company’s stock worth $25,168,000 after purchasing an additional 906,430 shares during the last quarter.

About Semtech

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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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