Semtech (NASDAQ:SMTC) Sets New 1-Year High at $39.69

Semtech Co. (NASDAQ:SMTC)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $39.69 and last traded at $38.96, with a volume of 260867 shares trading hands. The stock had previously closed at $38.68.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Robert W. Baird upped their price target on Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Oppenheimer restated a “market perform” rating on shares of Semtech in a research note on Monday, April 1st. Stifel Nicolaus boosted their price target on shares of Semtech from $31.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Needham & Company LLC raised 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. Finally, Northland Securities boosted their target price on Semtech from $30.00 to $36.50 and gave the stock an “outperform” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Semtech has a consensus rating of “Moderate Buy” and a consensus price target of $39.85.

Semtech Trading Up 0.9 %

The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -2.29 and a beta of 1.70. The business has a fifty day moving average of $28.43 and a two-hundred day moving average of $22.12. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.79 and a current ratio of 2.46.

Semtech (NASDAQ:SMTC) last posted its earnings results 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). Semtech had a negative net margin of 125.70% and a negative return on equity of 9.41%. The firm had revenue of $192.95 million during the quarter, compared to analyst estimates of $191.24 million. As a group, equities analysts expect that Semtech Co. will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Semtech

In other Semtech news, CFO Mark Lin purchased 1,000 shares of Semtech stock in a transaction on Monday, April 8th. The shares were bought at an average price of $33.23 per share, with a total value of $33,230.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at $33,230. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Semtech

A number of institutional investors have recently made changes to their positions in SMTC. Fidelis Capital Partners LLC acquired a new position in Semtech in the 1st quarter valued at about $27,000. GAMMA Investing LLC grew its holdings in shares of Semtech by 83.9% during the first quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock worth $47,000 after buying an additional 773 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Semtech by 205.0% in the first quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 1,259 shares during the last quarter. Cape Investment Advisory Inc. purchased a new position in shares of Semtech during the fourth quarter valued at approximately $63,000. Finally, Tower Research Capital LLC TRC boosted its position in Semtech by 67.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,652 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 1,871 shares during the last quarter.

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.