Semtech (NASDAQ:SMTC) Hits New 1-Year High at $47.38

Semtech Co. (NASDAQ:SMTC)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $47.38 and last traded at $47.25, with a volume of 1246496 shares trading hands. The stock had previously closed at $44.03.

Wall Street Analyst Weigh In

SMTC has been the subject of a number of research analyst reports. Susquehanna increased their price target on Semtech from $45.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, June 6th. Roth Mkm reaffirmed a “buy” rating and set a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights downgraded shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Craig Hallum increased their price objective on shares of Semtech from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Benchmark reiterated a “buy” rating and issued a $56.00 target price on shares of Semtech in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Semtech has an average rating of “Moderate Buy” and a consensus price target of $52.60.

Semtech Stock Performance

The company’s 50-day simple moving average is $35.87 and its 200 day simple moving average is $33.59. The company has a market cap of $3.47 billion, a PE ratio of -2.76 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The firm had revenue of $215.40 million during the quarter, compared to analyst estimates of $212.30 million. During the same period last year, the business posted ($0.06) earnings per share. Semtech’s revenue was down 9.6% compared to the same quarter last year. Analysts forecast that Semtech Co. will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMTC. Fidelis Capital Partners LLC acquired a new stake in shares of Semtech in the 1st quarter valued at $27,000. Ridgewood Investments LLC purchased a new position in Semtech in the second quarter valued at $44,000. GAMMA Investing LLC raised its stake in Semtech by 83.9% in the first 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 in the last quarter. Versant Capital Management Inc lifted its holdings in Semtech by 205.0% during the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after buying an additional 1,259 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Semtech during the 2nd quarter worth about $60,000.

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.