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

Semtech Co. (NASDAQ:SMTC)’s share price reached a new 52-week high during mid-day trading on Friday . The stock 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.

Analysts Set New Price Targets

SMTC has been the topic of a number of analyst reports. Needham & Company LLC upped their price objective on Semtech from $26.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Stifel Nicolaus increased their price target on Semtech from $31.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Craig Hallum increased their price target on Semtech from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Northland Securities increased their price target on Semtech from $30.00 to $36.50 and gave the company an “outperform” rating in a research note on Monday, April 1st. Finally, Oppenheimer restated a “market perform” rating on shares of Semtech in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average target price of $39.85.

Semtech Stock Up 3.1 %

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

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

Insider Transactions at Semtech

In related news, CFO Mark Lin bought 1,000 shares of Semtech stock in a transaction dated Monday, April 8th. The shares were bought at an average cost 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 approximately $33,230. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Semtech

Large investors have recently modified their holdings of the stock. Kodai Capital Management LP acquired a new stake in Semtech in the fourth quarter valued at about $43,504,000. Ameriprise Financial Inc. boosted its stake in Semtech by 58.9% in the third quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock valued at $101,927,000 after buying an additional 1,466,665 shares in the last quarter. Invesco Ltd. boosted its stake in Semtech by 215.9% in the third quarter. Invesco Ltd. now owns 947,997 shares of the semiconductor company’s stock valued at $24,411,000 after buying an additional 647,893 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Semtech by 81.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,369,043 shares of the semiconductor company’s stock valued at $29,996,000 after buying an additional 613,274 shares in the last quarter. Finally, Kettle Hill Capital Management LLC acquired a new stake in Semtech in the fourth quarter valued at about $5,964,000.

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.