Semtech (NASDAQ:SMTC) Hits New 12-Month High at $47.97

Semtech Co. (NASDAQ:SMTC) shares hit a new 52-week high on Wednesday . The company traded as high as $47.97 and last traded at $47.88, with a volume of 17194 shares trading hands. The stock had previously closed at $47.60.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of Semtech from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Benchmark reaffirmed a “buy” rating and issued a $56.00 target price on shares of Semtech in a research report on Monday, September 9th. B. Riley upped their target price on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Stifel Nicolaus upped their price objective on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Susquehanna boosted their target price on Semtech from $45.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, June 6th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

Semtech Trading Down 0.3 %

The stock has a fifty day moving average of $36.68 and a two-hundred day moving average of $34.33.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The firm had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The firm’s revenue was down 9.6% on a year-over-year basis. Analysts expect that Semtech Co. will post -0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Semtech

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Semtech by 1.6% in the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after buying an additional 131,133 shares in the last quarter. Millennium Management LLC lifted its position in shares of Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after acquiring an additional 765,877 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of Semtech by 343.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after acquiring an additional 1,932,116 shares during the last quarter. Kodai Capital Management LP raised its stake in Semtech by 2.7% in the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after purchasing an additional 54,267 shares during the last quarter. Finally, Contour Asset Management LLC lifted its holdings in Semtech by 2.6% in the 4th quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock valued at $32,072,000 after purchasing an additional 36,838 shares in the last quarter.

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.