Semtech Corp. (SMTC) Sets New 1-Year High at $26.14
Semtech Corp. (NASDAQ:SMTC)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $26.14 and last traded at $26.10, with a volume of 113,056 shares changing hands. The stock had previously closed at $25.48.
SMTC has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Semtech Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. B. Riley reaffirmed a “buy” rating and set a $31.00 price objective on shares of Semtech Corp. in a report on Wednesday, May 18th. Royal Bank Of Canada raised their price target on shares of Semtech Corp. from $22.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 2nd. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Semtech Corp. in a research note on Thursday, June 2nd. Finally, Drexel Hamilton reissued a “buy” rating and issued a $29.00 price target (up from $26.00) on shares of Semtech Corp. in a research note on Friday, June 3rd. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.86.
The company has a 50-day moving average price of $24.50 and a 200 day moving average price of $22.18. The stock has a market cap of $1.69 billion and a P/E ratio of 91.34.
Semtech Corp. (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, June 1st. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. During the same quarter in the prior year, the company earned $0.27 earnings per share. The firm earned $131.10 million during the quarter. The business’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 EPS for the current fiscal year.
In other Semtech Corp. news, Director James P. Burra sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $24.46, for a total value of $122,300.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $244,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rockell N. Hankin sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $24.04, for a total transaction of $60,100.00. Following the transaction, the director now directly owns 162,440 shares in the company, valued at $3,905,057.60. The disclosure for this sale can be found here.
Several institutional investors recently bought and sold shares of the company. 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 worth $1,237,000 after buying an additional 2,600 shares during the period. 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 worth $2,957,000 after buying an additional 8,300 shares during the period. Finally, 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 worth $25,655,000 after buying an additional 1,258,335 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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