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

Several equities analysts recently commented on SMTC shares. TheStreet upgraded Semtech Corp. from a “sell” rating to a “hold” rating in a research report on Friday, March 18th. B. Riley restated a “buy” rating and set a $31.00 target price on shares of Semtech Corp. in a research report on Friday, April 1st. Zacks Investment Research cut Semtech Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Royal Bank Of Canada boosted their target price on Semtech Corp. from $22.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 2nd. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Semtech Corp. in a research report on Thursday, June 2nd. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Semtech Corp. currently has an average rating of “Buy” and an average target price of $24.86.

The firm’s 50 day moving average price is $23.74 and its 200-day moving average price is $21.13. The company has a market capitalization of $1.60 billion and a P/E ratio of 86.54.

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

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

Several hedge funds recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake 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 in the last quarter. Morgan Stanley increased its position in shares of Semtech Corp. by 1,288.7% in the fourth quarter. Morgan Stanley now owns 1,355,980 shares of the company’s stock worth $25,655,000 after buying an additional 1,258,335 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Semtech Corp. by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,209,356 shares of the company’s stock worth $22,881,000 after buying an additional 85,229 shares during the period. Eagle Asset Management Inc. increased its position in shares of Semtech Corp. by 4.7% in the fourth quarter. Eagle Asset Management Inc. now owns 77,276 shares of the company’s stock worth $1,462,000 after buying an additional 3,479 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of 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 worth $1,237,000 after buying an additional 2,600 shares during the period.

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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