Semtech (NASDAQ:SMTC) Earns Outperform Rating from Robert W. Baird

Robert W. Baird reaffirmed their outperform rating on shares of Semtech (NASDAQ:SMTC) in a research report report published on Tuesday, Benzinga reports. They currently have a $40.00 target price on the semiconductor company’s stock.

Other analysts have also recently issued reports about the stock. Roth Mkm lowered their price objective on shares of Semtech from $46.00 to $42.00 and set a buy rating for the company in a research note on Thursday, December 7th. Needham & Company LLC lowered their price objective on shares of Semtech from $35.00 to $26.00 and set a buy rating for the company in a research note on Thursday, December 7th. Susquehanna boosted their price objective on shares of Semtech from $25.00 to $30.00 and gave the company a positive rating in a research note on Thursday, March 14th. Finally, Stifel Nicolaus boosted their price objective 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. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $33.10.

Semtech Stock Down 1.3 %

SMTC stock opened at $27.49 on Tuesday. The stock has a market capitalization of $1.77 billion, a P/E ratio of -3.51, a PEG ratio of 14.68 and a beta of 1.81. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.72 and a current ratio of 2.39. Semtech has a one year low of $13.13 and a one year high of $32.44. The company has a 50 day moving average price of $21.63 and a two-hundred day moving average price of $20.45.

Hedge Funds Weigh In On Semtech

A number of institutional investors have recently added to or reduced their stakes in SMTC. Neo Ivy Capital Management acquired a new stake in shares of Semtech in the 2nd quarter valued at about $41,000. Captrust Financial Advisors raised its stake in shares of Semtech by 186.5% in the 1st quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 664 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Semtech in the 1st quarter valued at about $84,000. Covestor Ltd raised its stake in shares of Semtech by 123.9% in the 1st quarter. Covestor Ltd now owns 1,397 shares of the semiconductor company’s stock valued at $97,000 after purchasing an additional 773 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Semtech in the 1st quarter valued at about $49,000.

Semtech Company Profile

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.