Semtech (NASDAQ:SMTC) Sees Unusually-High Trading Volume

Shares of Semtech Co. (NASDAQ:SMTC) saw strong trading volume on Wednesday . 1,366,724 shares traded hands during mid-day trading, an increase of 22% from the previous session’s volume of 1,124,805 shares.The stock last traded at $26.22 and had previously closed at $25.17.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Susquehanna increased their price target on Semtech from $25.00 to $30.00 and gave the stock a “positive” rating in a report on Thursday, March 14th. Needham & Company LLC reduced their price target on shares of Semtech from $35.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, December 7th. Roth Mkm dropped their price objective on shares of Semtech from $46.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, December 7th. Robert W. Baird restated an “outperform” rating and issued a $40.00 target price on shares of Semtech in a research note on Tuesday. Finally, Stifel Nicolaus upped their price target on Semtech from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.10.

Semtech Trading Down 1.3 %

The company has a quick ratio of 1.72, a current ratio of 2.39 and a debt-to-equity ratio of 4.11. The firm has a 50 day moving average price of $21.63 and a 200 day moving average price of $20.45. The stock has a market capitalization of $1.77 billion, a PE ratio of -3.51, a P/E/G ratio of 16.25 and a beta of 1.81.

Hedge Funds Weigh In On Semtech

Large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Semtech by 29.7% during the first quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock valued at $291,861,000 after purchasing an additional 2,769,314 shares in the last quarter. Kodai Capital Management LP purchased a new stake in Semtech in the 4th quarter valued at about $43,504,000. Ameriprise Financial Inc. lifted its position in shares of Semtech by 58.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock worth $101,927,000 after buying an additional 1,466,665 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Semtech by 1,084.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 999,400 shares of the semiconductor company’s stock worth $25,445,000 after buying an additional 915,000 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Semtech by 374.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,148,681 shares of the semiconductor company’s stock valued at $25,168,000 after acquiring an additional 906,430 shares in the last quarter.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.