Semtech (NASDAQ:SMTC) Hits New 12-Month High at $41.39

Semtech Co. (NASDAQ:SMTC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.39 and last traded at $41.30, with a volume of 490454 shares traded. The stock had previously closed at $40.21.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Needham & Company LLC lifted their target price on shares of Semtech from $26.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Susquehanna lifted their target price on shares of Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a research note on Monday, April 1st. Robert W. Baird lifted their target price on shares of Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. B. Riley lifted their target price on shares of Semtech from $43.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Semtech in a research note on Monday, April 1st. One 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.com, the company has an average rating of “Moderate Buy” and an average price target of $40.35.

Semtech Price Performance

The company’s 50 day moving average price is $32.34 and its 200-day moving average price is $24.06. The company has a market capitalization of $2.62 billion, a PE ratio of -2.39 and a beta of 1.70. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) 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 company had revenue of $192.95 million for the quarter, compared to analysts’ expectations of $191.24 million. On average, sell-side analysts forecast that Semtech Co. will post -0.09 earnings per share for the current fiscal year.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin bought 1,000 shares of Semtech stock in a transaction that occurred on Monday, April 8th. The shares were acquired at an average price of $33.23 per share, for a total transaction of $33,230.00. Following the acquisition, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $33,230. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Semtech

Hedge funds and other institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System acquired a new position in Semtech in the 4th quarter worth $703,000. Victory Capital Management Inc. lifted its holdings in Semtech by 81.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,369,043 shares of the semiconductor company’s stock worth $29,996,000 after buying an additional 613,274 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Semtech by 42.2% in the 4th quarter. BNP Paribas Financial Markets now owns 563,560 shares of the semiconductor company’s stock worth $12,348,000 after buying an additional 167,376 shares in the last quarter. National Bank of Canada FI acquired a new position in Semtech in the 4th quarter worth $1,389,000. Finally, Legato Capital Management LLC acquired a new position in Semtech in the 4th quarter worth $201,000.

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.