Semtech Corp. (NASDAQ:SMTC)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $26.14 and last traded at $26.10, with a volume of 113,056 shares traded. The stock had previously closed at $25.48.

Several equities research analysts have weighed in on SMTC shares. B. Riley reaffirmed a “buy” rating and set a $31.50 price target on shares of Semtech Corp. in a research report on Monday, June 20th. Zacks Investment Research downgraded Semtech Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Drexel Hamilton reaffirmed a “buy” rating and set a $29.00 price target (up from $26.00) on shares of Semtech Corp. in a research report on Friday, June 3rd. MKM Partners reaffirmed a “hold” rating on shares of Semtech Corp. in a research report on Thursday, June 23rd. Finally, Royal Bank Of Canada increased their price target 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. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $24.86.

The firm has a market cap of $1.70 billion and a PE ratio of 92.26. The company’s 50 day moving average price is $24.30 and its 200-day moving average price is $22.04.

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 analysts’ consensus estimates of $0.27 by $0.03. The company earned $131.10 million during the quarter. Semtech Corp.’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 earnings per share. On average, equities analysts predict that Semtech Corp. will post $1.32 earnings per share for the current fiscal year.

In related news, Director Bruce C. Edwards sold 5,000 shares of the business’s stock in a transaction on 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 $330,538.65. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Mark C. Costello sold 1,183 shares of the business’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 disclosure for this sale can be found here.

A number of large investors recently made changes to their positions in the stock. Morgan Stanley boosted its stake 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. California Public Employees Retirement System boosted its stake in shares of Semtech Corp. by 5.6% in the fourth quarter. California Public Employees Retirement System now owns 156,300 shares of the company’s stock worth $2,957,000 after buying an additional 8,300 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake 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 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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