Semtech (NASDAQ:SMTC) Shares Down 3.3%

Shares of Semtech Co. (NASDAQ:SMTC) traded down 3.3% on Friday . The company traded as low as $35.57 and last traded at $35.67. 183,467 shares traded hands during trading, a decline of 91% from the average session volume of 1,952,142 shares. The stock had previously closed at $36.90.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Craig Hallum lifted their target price on Semtech from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Northland Securities lifted their price objective on Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price objective (up from $40.00) on shares of Semtech in a report on Wednesday, May 29th. B. Riley lifted their price objective on Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Semtech in a report on Monday, April 1st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.90.

Semtech Stock Down 2.8 %

The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.74 and a current ratio of 2.40. The firm’s 50-day moving average is $35.32 and its two-hundred day moving average is $28.45. The stock has a market cap of $2.32 billion, a P/E ratio of -2.12 and a beta of 1.55.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). The firm had revenue of $206.11 million during the quarter, compared to analysts’ expectations of $200.16 million. Semtech had a negative net margin of 129.52% and a negative return on equity of 154.99%. On average, equities research analysts anticipate that Semtech Co. will post -0.03 earnings per share for the current year.

Institutional Trading of Semtech

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of Semtech by 83.9% in the 1st quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 773 shares during the period. Texas Permanent School Fund Corp boosted its stake in Semtech by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,053 shares of the semiconductor company’s stock worth $1,541,000 after purchasing an additional 875 shares during the period. ProShare Advisors LLC boosted its stake in Semtech by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 12,902 shares of the semiconductor company’s stock worth $355,000 after purchasing an additional 893 shares during the period. Fidelis Capital Partners LLC acquired a new position in Semtech in the 1st quarter worth $27,000. Finally, Versant Capital Management Inc boosted its stake in Semtech by 205.0% in the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 1,259 shares during the period.

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.