Investment analysts at Piper Jaffray Companies initiated coverage on shares of Semtech (NASDAQ:SMTC) in a report issued on Monday, The Fly reports. The firm set a “neutral” rating on the semiconductor company’s stock.
A number of other research analysts have also commented on the company. Needham & Company LLC began coverage on Semtech in a research note on Monday, December 11th. They issued a “buy” rating and a $42.00 target price for the company. BidaskClub lowered Semtech from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Zacks Investment Research lowered Semtech from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Oppenheimer restated a “buy” rating and issued a $42.00 target price on shares of Semtech in a research note on Thursday, November 30th. Finally, Drexel Hamilton restated a “buy” rating and issued a $45.00 target price on shares of Semtech in a research note on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Semtech currently has a consensus rating of “Buy” and a consensus target price of $43.13.
Semtech (NASDAQ SMTC) traded up $0.85 on Monday, hitting $35.25. The stock had a trading volume of 530,333 shares, compared to its average volume of 489,447. Semtech has a 12 month low of $31.00 and a 12 month high of $41.95. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $2,282.72, a PE ratio of 29.66, a price-to-earnings-growth ratio of 5.69 and a beta of 1.41.
In other Semtech news, CFO Emeka Chukwu sold 2,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $37.72, for a total transaction of $75,440.00. Following the completion of the transaction, the chief financial officer now directly owns 77,776 shares in the company, valued at $2,933,710.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Marc Pegulu sold 1,000 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $38.21, for a total value of $38,210.00. The disclosure for this sale can be found here. Insiders have sold 57,723 shares of company stock valued at $2,229,917 over the last quarter. Corporate insiders own 2.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Aperio Group LLC grew its holdings in shares of Semtech by 10.6% during the second quarter. Aperio Group LLC now owns 15,511 shares of the semiconductor company’s stock worth $555,000 after purchasing an additional 1,488 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Semtech by 5.3% during the second quarter. Russell Investments Group Ltd. now owns 38,684 shares of the semiconductor company’s stock worth $1,384,000 after purchasing an additional 1,956 shares during the last quarter. Strs Ohio grew its holdings in shares of Semtech by 22.2% during the second quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 600 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Semtech by 16.2% during the second quarter. Sei Investments Co. now owns 7,825 shares of the semiconductor company’s stock worth $279,000 after purchasing an additional 1,090 shares during the last quarter. Finally, TD Asset Management Inc. grew its holdings in shares of Semtech by 12.0% during the second quarter. TD Asset Management Inc. now owns 26,090 shares of the semiconductor company’s stock worth $933,000 after purchasing an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 94.00% of the company’s stock.
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About Semtech
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
