Semtech Corp. (NASDAQ:SMTC)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $26.68 and last traded at $26.51, with a volume of 125,068 shares changing hands. The stock had previously closed at $26.22.

SMTC has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and set a $31.50 target price on shares of Semtech Corp. in a research note on Monday, June 20th. Zacks Investment Research upgraded 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 note on Wednesday, June 8th. Drexel Hamilton reiterated a “buy” rating and set a $29.00 target price (up from $26.00) on shares of Semtech Corp. in a research note on Friday, June 3rd. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Semtech Corp. in a research note on Thursday, June 2nd. Finally, MKM Partners reiterated a “hold” rating on shares of Semtech Corp. in a research note on Thursday, June 23rd. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $25.92.

The firm has a market capitalization of $1.73 billion and a P/E ratio of 93.43. The stock’s 50-day moving average price is $24.75 and its 200 day moving average price is $22.27.

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, topping the consensus estimate of $0.27 by $0.03. The business had revenue of $131.10 million for the quarter. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 earnings per share. On average, equities analysts forecast that Semtech Corp. will post $1.32 earnings per share for the current year.

In related news, insider Mohan Maheswaran sold 1,500 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $26.00, for a total value of $39,000.00. Following the completion of the transaction, the insider now directly owns 184,867 shares of the company’s stock, valued at $4,806,542. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 disclosure for this sale can be found here.

A hedge fund recently raised its stake in Semtech Corp. stock. Morgan Stanley boosted its stake in shares of Semtech Corp. (NASDAQ:SMTC) by 1,288.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,355,980 shares of the company’s stock after buying an additional 1,258,335 shares during the period. Morgan Stanley owned 2.09% of Semtech Corp. worth $25,655,000 at the end of the most recent reporting 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.