Semtech (NASDAQ:SMTC) Hits New 12-Month High at $35.93

Shares of Semtech Co. (NASDAQ:SMTC) hit a new 52-week high on Friday . The company traded as high as $35.93 and last traded at $35.57, with a volume of 507506 shares traded. The stock had previously closed at $34.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Oppenheimer reiterated a “market perform” rating on shares of Semtech in a research report on Monday, April 1st. Craig Hallum lifted their price objective on Semtech from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Susquehanna lifted their price objective on Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a research report on Monday, April 1st. Robert W. Baird lifted their price objective on Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Finally, Stifel Nicolaus raised their target price on Semtech from $31.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Semtech has an average rating of “Moderate Buy” and an average target price of $39.85.

Semtech Stock Up 3.1 %

The stock has a 50 day simple moving average of $26.34 and a 200-day simple moving average of $21.51. The firm has a market cap of $2.31 billion, a PE ratio of -2.10 and a beta of 1.85. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.46 and a quick ratio of 1.79.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The company had revenue of $192.95 million for the quarter, compared to analysts’ expectations of $191.24 million. Semtech had a negative net margin of 125.70% and a negative return on equity of 9.41%. Sell-side analysts predict that Semtech Co. will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Semtech news, CFO Mark Lin bought 1,000 shares of Semtech stock in a transaction on Monday, April 8th. The stock was acquired at an average price of $33.23 per share, with a total value of $33,230.00. Following the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at $33,230. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Semtech

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Semtech by 83.9% in the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 773 shares during the period. Versant Capital Management Inc grew its stake in shares of Semtech by 205.0% during the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 1,259 shares during the period. Cape Investment Advisory Inc. bought a new stake in shares of Semtech during the 4th quarter valued at about $63,000. Tower Research Capital LLC TRC lifted its stake in shares of Semtech by 67.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,652 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 1,871 shares during the period. Finally, Partnership Wealth Management LLC bought a new stake in Semtech during the fourth quarter valued at approximately $141,000.

Semtech Company Profile

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