Shares of Semtech Corp. (NASDAQ:SMTC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $24.84 and last traded at $24.42, with a volume of 126,347 shares traded. The stock had previously closed at $24.35.

A number of research firms have recently issued reports on SMTC. Royal Bank Of Canada lifted their price objective on shares of Semtech Corp. from $22.00 to $25.00 and gave the stock a “sector perform” rating in a report on Thursday, June 2nd. B. Riley reaffirmed a “buy” rating and set a $31.50 price objective on shares of Semtech Corp. in a report on Thursday, June 2nd. Zacks Investment Research raised shares of Semtech Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, June 8th. Drexel Hamilton reaffirmed a “buy” rating and set a $29.00 price objective (up from $26.00) on shares of Semtech Corp. in a report on Friday, June 3rd. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Semtech Corp. in a report on Thursday, June 2nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Semtech Corp. presently has a consensus rating of “Buy” and an average target price of $24.86.

The stock’s 50-day moving average price is $23.59 and its 200-day moving average price is $21.07. The stock has a market cap of $1.59 billion and a PE ratio of 86.22.

Semtech Corp. (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, June 1st. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. The firm earned $131.10 million during the quarter. During the same period in the previous year, the business posted $0.27 earnings per share. Semtech Corp.’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts expect that Semtech Corp. will post $1.32 EPS for the current fiscal year.

In related news, VP Mark C. Costello sold 1,183 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $24.51, for a total transaction of $28,995.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rockell N. Hankin sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $24.04, for a total transaction of $60,100.00. Following the transaction, the director now directly owns 162,440 shares of the company’s stock, valued at $3,905,057.60. The disclosure for this sale can be found here.

A number of institutional investors recently bought and sold shares of SMTC. New York State Common Retirement Fund boosted its position in Semtech Corp. by 4.1% in the fourth quarter. New York State Common Retirement Fund now owns 65,400 shares of the company’s stock valued at $1,237,000 after buying an additional 2,600 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Semtech Corp. by 4.7% in the fourth quarter. Eagle Asset Management Inc. now owns 77,276 shares of the company’s stock valued at $1,462,000 after buying an additional 3,479 shares during the last quarter. California State Teachers Retirement System boosted its position in Semtech Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 122,987 shares of the company’s stock valued at $2,327,000 after buying an additional 1,936 shares during the last quarter. California Public Employees Retirement System boosted its position in Semtech Corp. by 5.6% in the fourth quarter. California Public Employees Retirement System now owns 156,300 shares of the company’s stock valued at $2,957,000 after buying an additional 8,300 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in Semtech Corp. by 101.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 403,194 shares of the company’s stock valued at $7,628,000 after buying an additional 203,355 shares during the last quarter.

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.

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