Semtech (NASDAQ:SMTC) Trading Up 7.4%

Semtech Co. (NASDAQ:SMTC)’s share price was up 7.4% during trading on Wednesday . The stock traded as high as $30.72 and last traded at $30.29. Approximately 1,103,821 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 1,452,125 shares. The stock had previously closed at $28.19.

Analysts Set New Price Targets

Several research firms have recently weighed in on SMTC. Susquehanna upped their price objective on Semtech from $30.00 to $45.00 and gave the company a “positive” rating in a research note on Monday. Roth Mkm lowered their price objective on Semtech from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, December 7th. Oppenheimer reiterated a “market perform” rating on shares of Semtech in a research note on Monday. Craig Hallum raised their price target on Semtech from $30.00 to $36.00 and gave the company a “buy” rating in a report on Monday. Finally, Stifel Nicolaus raised their price target on Semtech from $26.00 to $31.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.35.

Semtech Trading Up 13.2 %

The company has a fifty day simple moving average of $22.02 and a two-hundred day simple moving average of $20.50. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 4.11. The stock has a market capitalization of $2.05 billion, a P/E ratio of -1.77, a price-to-earnings-growth ratio of 17.13 and a beta of 1.85.

Institutional Trading of Semtech

A number of institutional investors have recently modified their holdings of SMTC. Goldman Sachs Group Inc. increased its position in shares of Semtech by 19.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,217,670 shares of the semiconductor company’s stock valued at $26,679,000 after acquiring an additional 197,595 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Semtech by 431.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 827,582 shares of the semiconductor company’s stock valued at $18,133,000 after acquiring an additional 671,885 shares during the last quarter. Contour Asset Management LLC increased its position in shares of Semtech by 2.6% in the fourth quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock valued at $32,072,000 after acquiring an additional 36,838 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Semtech in the fourth quarter valued at about $546,000. Finally, Potomac Capital Management Inc. acquired a new position in Semtech during the fourth quarter worth approximately $1,275,000.

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.