Semtech (NASDAQ:SMTC) Sets New 12-Month High at $39.69

Semtech Co. (NASDAQ:SMTC) hit a new 52-week high on Friday . The company traded as high as $39.69 and last traded at $38.96, with a volume of 260867 shares traded. The stock had previously closed at $38.68.

Wall Street Analyst Weigh In

A number of analysts recently commented on SMTC shares. Craig Hallum upped their price objective on shares of Semtech from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Needham & Company LLC raised their price target on Semtech from $26.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective (up from $30.00) on shares of Semtech in a research report on Monday, April 1st. Susquehanna increased their target price on Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a research note on Monday, April 1st. Finally, Northland Securities upped their price target on shares of Semtech from $30.00 to $36.50 and gave the company an “outperform” rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven 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 target price of $39.85.

Semtech Trading Up 0.9 %

The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -2.27 and a beta of 1.70. The business has a 50-day simple moving average of $28.06 and a two-hundred day simple moving average of $22.01. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.46 and a quick ratio of 1.79.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The company had revenue of $192.95 million during the quarter, compared to analyst estimates of $191.24 million. Semtech had a negative net margin of 125.70% and a negative return on equity of 9.41%. Equities analysts forecast that Semtech Co. will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mark Lin acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were acquired at an average cost of $33.23 per share, with a total value of $33,230.00. Following the completion of the purchase, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $33,230. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Semtech

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System acquired a new position in Semtech in the 4th quarter worth about $703,000. Legato Capital Management LLC acquired a new stake in Semtech during the 4th quarter worth approximately $201,000. SG Americas Securities LLC bought a new stake in Semtech during the 4th quarter worth approximately $164,000. Fuller & Thaler Asset Management Inc. increased its position in Semtech by 8.8% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 552,115 shares of the semiconductor company’s stock valued at $14,217,000 after acquiring an additional 44,512 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Semtech by 76.7% during the third quarter. New York State Common Retirement Fund now owns 468,166 shares of the semiconductor company’s stock worth $12,055,000 after purchasing an additional 203,182 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.