Susquehanna Raises Semtech (NASDAQ:SMTC) Price Target to $30.00

Semtech (NASDAQ:SMTC) had its price target raised by Susquehanna from $25.00 to $30.00 in a research note published on Thursday, Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

SMTC has been the subject of several other research reports. Roth Mkm cut their target price on 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 cut their target price on Semtech from $35.00 to $26.00 and set a buy rating for the company in a research note on Thursday, December 7th. Finally, Stifel Nicolaus raised their target price on Semtech from $22.00 to $26.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $33.10.

Semtech Stock Performance

SMTC traded down $0.32 during trading hours on Thursday, hitting $22.53. The stock had a trading volume of 1,059,781 shares, compared to its average volume of 1,103,455. The company’s fifty day simple moving average is $20.86 and its 200 day simple moving average is $20.48. Semtech has a 1 year low of $13.13 and a 1 year high of $33.15. The stock has a market cap of $1.45 billion, a PE ratio of -2.88, a price-to-earnings-growth ratio of 13.09 and a beta of 1.81. The company has a quick ratio of 1.72, a current ratio of 2.39 and a debt-to-equity ratio of 4.11.

Institutional Trading of Semtech

A number of large investors have recently modified their holdings of SMTC. BlackRock Inc. lifted its position in 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 buying an additional 2,769,314 shares during the last quarter. Vanguard Group Inc. lifted its position in Semtech by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,576,015 shares of the semiconductor company’s stock worth $193,401,000 after buying an additional 151,730 shares during the last quarter. State Street Corp lifted its position in Semtech by 16.1% in the 2nd quarter. State Street Corp now owns 4,382,903 shares of the semiconductor company’s stock worth $111,589,000 after buying an additional 606,593 shares during the last quarter. Capital Research Global Investors lifted its position in Semtech by 1,163.9% in the 2nd quarter. Capital Research Global Investors now owns 4,002,965 shares of the semiconductor company’s stock worth $101,915,000 after buying an additional 3,686,252 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in 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 buying an additional 1,466,665 shares during the last quarter.

About Semtech

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.