Semtech Co. (NASDAQ:SMTC - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $29.29 and last traded at $31.25, with a volume of 2195850 shares traded. The stock had previously closed at $31.19.
Analyst Ratings Changes
A number of research firms have recently commented on SMTC. Robert W. Baird reduced their price objective on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Benchmark cut their price target on shares of Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Craig Hallum lowered their price objective on Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, March 14th. UBS Group cut their target price on Semtech from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $55.00 target price (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $57.33.
Check Out Our Latest Analysis on SMTC
Semtech Stock Performance
The company has a market capitalization of $2.96 billion, a P/E ratio of -2.62, a PEG ratio of 2.12 and a beta of 1.85. The business has a fifty day moving average of $32.63 and a 200-day moving average of $48.24.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The firm's quarterly revenue was up 30.1% compared to the same quarter last year. Sell-side analysts anticipate that Semtech Co. will post -0.02 EPS for the current year.
Insider Transactions at Semtech
In other news, CFO Mark Lin sold 2,907 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the sale, the chief financial officer now owns 13,481 shares in the company, valued at $508,368.51. This represents a 17.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.60% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of Semtech during the 4th quarter worth approximately $31,000. Dunhill Financial LLC bought a new stake in Semtech during the fourth quarter worth $31,000. NBC Securities Inc. boosted its position in Semtech by 104,700.0% in the first quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 1,047 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 505 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Semtech during the 4th quarter valued at $52,000.
Semtech Company Profile
(
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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