Semtech Co. (NASDAQ:SMTC - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $41.39 and last traded at $41.30, with a volume of 490454 shares traded. The stock had previously closed at $40.21.
Wall Street Analysts Forecast Growth
Several brokerages have commented on SMTC. Susquehanna increased their target price on Semtech from $30.00 to $45.00 and gave the company a "positive" rating in a research note on Monday, April 1st. Stifel Nicolaus lifted their price objective on Semtech from $31.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, April 18th. Northland Securities upped their target price on shares of Semtech from $30.00 to $36.50 and gave the company an "outperform" rating in a research note on Monday, April 1st. B. Riley lifted their price target on shares of Semtech from $43.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Needham & Company LLC increased their price objective on shares of Semtech from $26.00 to $38.00 and gave the company a "buy" rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $40.35.
Get Our Latest Analysis on SMTC
Semtech Trading Up 1.0 %
The stock has a market capitalization of $2.62 billion, a P/E ratio of -2.39 and a beta of 1.70. The company has a 50-day moving average price of $32.68 and a 200 day moving average price of $24.24. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11.
Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings results on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Semtech had a negative return on equity of 9.41% and a negative net margin of 125.70%. The firm had revenue of $192.95 million during the quarter, compared to analysts' expectations of $191.24 million. On average, research analysts forecast that Semtech Co. will post -0.09 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Mark Lin bought 1,000 shares of the company's stock in a transaction that occurred on Monday, April 8th. The shares were purchased at an average price of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the transaction, the chief financial officer now directly owns 1,000 shares in the company, valued at $33,230. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.60% of the company's stock.
Institutional Trading of Semtech
Several institutional investors have recently bought and sold shares of SMTC. Vanguard Group Inc. boosted its stake in shares of Semtech by 1.6% in the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company's stock worth $232,522,000 after acquiring an additional 131,133 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Semtech by 58.9% during the 3rd 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 during the period. Kodai Capital Management LP lifted its stake in shares of Semtech by 2.7% in the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company's stock valued at $56,075,000 after purchasing an additional 54,267 shares during the last quarter. Contour Asset Management LLC boosted its stake in Semtech by 2.6% during the fourth quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company's stock worth $32,072,000 after buying an additional 36,838 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Semtech by 81.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,369,043 shares of the semiconductor company's stock valued at $29,996,000 after acquiring an additional 613,274 shares during the period.
About Semtech
(
Get Free Report)
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.
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