Semtech Corporation (NASDAQ:SMTC - Get Free Report) was up 5% during mid-day trading on Wednesday . The stock traded as high as $41.95 and last traded at $42.26. Approximately 258,079 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 2,109,789 shares. The stock had previously closed at $40.23.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Benchmark reissued a "buy" rating and issued a $68.00 price target on shares of Semtech in a report on Wednesday, May 28th. Needham & Company LLC reissued a "buy" rating and issued a $54.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Stifel Nicolaus lifted their price target on Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Craig Hallum lowered their price target on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Finally, UBS Group cut their price objective on Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.58.
Get Our Latest Stock Analysis on Semtech
Semtech Stock Up 4.3%
The company has a quick ratio of 1.81, a current ratio of 2.53 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $3.64 billion, a PE ratio of -20.31 and a beta of 1.88. The firm has a 50-day moving average of $34.74 and a two-hundred day moving average of $45.82.
Insiders Place Their Bets
In other news, CFO Mark Lin sold 2,907 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was 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 directly owns 13,481 shares of the company's stock, valued at approximately $508,368.51. This represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Semtech
Several institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in shares of Semtech by 3.5% in the first quarter. Rhumbline Advisers now owns 212,584 shares of the semiconductor company's stock valued at $7,313,000 after purchasing an additional 7,221 shares during the period. Strs Ohio purchased a new position in Semtech during the 1st quarter worth $65,000. Geneos Wealth Management Inc. purchased a new stake in shares of Semtech in the first quarter valued at about $376,000. Intech Investment Management LLC boosted its holdings in shares of Semtech by 72.6% in the first quarter. Intech Investment Management LLC now owns 68,497 shares of the semiconductor company's stock valued at $2,356,000 after acquiring an additional 28,812 shares in the last quarter. Finally, Bayforest Capital Ltd increased its stake in shares of Semtech by 149.7% during the first quarter. Bayforest Capital Ltd now owns 12,613 shares of the semiconductor company's stock worth $434,000 after acquiring an additional 7,562 shares during the period.
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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