Semtech Corp. (NASDAQ:SMTC) traded down 4.7% during trading on Tuesday . The stock traded as low as $24.28 and last traded at $24.28, with a volume of 542,372 shares traded. The stock had previously closed at $25.48.

Several equities research analysts have recently commented on the stock. B. Riley reissued a “buy” rating and set a $31.00 target price on shares of Semtech Corp. in a research report on Wednesday, April 6th. Zacks Investment Research raised shares of Semtech Corp. from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, June 8th. Royal Bank Of Canada boosted their target price on shares of 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, Drexel Hamilton reissued a “buy” rating and set a $29.00 target price on shares of Semtech Corp. in a research report on Thursday, June 23rd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Semtech Corp. has a consensus rating of “Buy” and a consensus price target of $24.86.

The stock has a 50 day moving average price of $24.12 and a 200 day moving average price of $21.73. The stock has a market capitalization of $1.58 billion and a price-to-earnings ratio of 85.80.

Semtech Corp. (NASDAQ:SMTC) last announced 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. The firm had revenue of $131.10 million for the quarter. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts predict that Semtech Corp. will post $1.32 earnings per share for the current fiscal year.

In other news, Director Bruce C. Edwards sold 5,000 shares of the firm’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 sale, the director now directly owns 15,045 shares of the company’s stock, valued at approximately $330,538.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rockell N. Hankin sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was 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 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.

Other large investors recently bought and sold shares of the company. California State Teachers Retirement System boosted 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 boosted its stake 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 stake 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. Principal Financial Group Inc. boosted its stake in Semtech Corp. by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 427,178 shares of the company’s stock valued at $8,082,000 after buying an additional 9,135 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its stake in Semtech Corp. by 17.7% in the fourth quarter. BlackRock Advisors LLC now owns 605,133 shares of the company’s stock valued at $11,449,000 after buying an additional 91,161 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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