Semtech (NASDAQ:SMTC) Shares Up 5% - Still a Buy?

Semtech Corporation (NASDAQ:SMTC - Get Free Report)'s stock price was up 5% during trading on Wednesday . The stock traded as high as $41.95 and last traded at $42.26. Approximately 258,079 shares changed hands during trading, a decline of 88% from the average daily volume of 2,109,789 shares. The stock had previously closed at $40.23.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SMTC shares. Craig Hallum reduced their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, March 14th. UBS Group reduced their price objective on shares of Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Morgan Stanley set a $43.00 price objective on shares of Semtech in a research note on Wednesday, May 28th. Benchmark reissued a "buy" rating and issued a $68.00 price target on shares of Semtech in a report on Wednesday, May 28th. Finally, Stifel Nicolaus increased their price target on shares of Semtech from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Semtech presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.58.

Semtech Trading Down 0.1%

The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95. The firm has a market cap of $3.63 billion, a PE ratio of -20.33 and a beta of 1.88. The firm has a fifty day simple moving average of $35.58 and a two-hundred day simple moving average of $45.48.

Insider Activity

In other news, CFO Mark Lin sold 2,907 shares of Semtech stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total transaction of $109,622.97. Following the completion of the transaction, the chief financial officer now directly owns 13,481 shares in the company, valued at approximately $508,368.51. This trade represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new position in shares of Semtech during the fourth quarter valued at $31,000. Dunhill Financial LLC bought a new stake in Semtech during the 4th quarter valued at about $31,000. NBC Securities Inc. increased its stake in Semtech by 104,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 1,047 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Semtech by 33.4% in the first quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company's stock worth $36,000 after buying an additional 257 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Semtech in the fourth quarter worth approximately $52,000.

About Semtech

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.