Shares of Semtech Corp. (NASDAQ:SMTC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $25.04 and last traded at $24.96, with a volume of 347,023 shares traded. The stock had previously closed at $24.19.

A number of analysts have issued reports on the stock. B. Riley reiterated a “buy” rating and set a $31.50 price target on shares of Semtech Corp. in a research note on Saturday, June 25th. MKM Partners reiterated a “hold” rating on shares of Semtech Corp. in a research note on Thursday, June 23rd. Drexel Hamilton reiterated a “buy” rating and set a $29.00 price target on shares of Semtech Corp. in a research note on Thursday, June 23rd. Zacks Investment Research upgraded shares of Semtech Corp. from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, June 8th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Semtech Corp. in a research note on Thursday, June 2nd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $24.86.

The company has a market capitalization of $1.65 billion and a price-to-earnings ratio of 89.43. The company has a 50-day moving average price of $23.97 and a 200 day moving average price of $21.50.

Semtech Corp. (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, June 1st. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $131.10 million for the quarter. During the same quarter last year, the company earned $0.27 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts predict that Semtech Corp. will post $1.32 EPS for the current year.

In other Semtech Corp. news, VP Mark C. Costello sold 1,183 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $24.51, for a total value of $28,995.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce C. Edwards sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $21.97, for a total value of $109,850.00. Following the completion of the transaction, the director now owns 15,045 shares in the company, valued at approximately $330,538.65. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently modified their holdings of SMTC. Principal Financial Group Inc. boosted its stake in shares of Semtech Corp. by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 427,178 shares of the company’s stock worth $8,082,000 after buying an additional 9,135 shares in the last quarter. Morgan Stanley boosted its position in Semtech Corp. by 1,288.7% in the fourth quarter. Morgan Stanley now owns 1,355,980 shares of the company’s stock valued at $25,655,000 after buying an additional 1,258,335 shares in the last quarter. 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 in 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 in the last quarter. Finally, 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 in 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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