Semtech Co. (NASDAQ:SMTC)’s share price hit a new 52-week low on Thursday after ValuEngine downgraded the stock from a buy rating to a hold rating. The company traded as low as $41.09 and last traded at $41.38, with a volume of 388151 shares. The stock had previously closed at $44.15.

A number of other equities analysts have also weighed in on the company. Oppenheimer decreased their target price on Semtech from $60.00 to $52.00 and set an “outperform” rating on the stock in a research note on Thursday. B. Riley decreased their target price on Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday. BidaskClub lowered Semtech from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Cowen assumed coverage on Semtech in a research note on Tuesday, May 21st. They issued an “outperform” rating and a $56.00 target price on the stock. Finally, Wells Fargo & Co initiated coverage on Semtech in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $48.03 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $56.54.

In other news, VP Mark C. Costello sold 18,609 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $54.10, for a total value of $1,006,746.90. Following the completion of the transaction, the vice president now directly owns 25,142 shares in the company, valued at approximately $1,360,182.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ye Jane Li sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $54.97, for a total value of $274,850.00. Following the completion of the transaction, the director now owns 7,328 shares of the company’s stock, valued at $402,820.16. The disclosure for this sale can be found here. Insiders sold a total of 147,514 shares of company stock valued at $7,645,374 over the last quarter. Company insiders own 1.96% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clearbridge Investments LLC raised its position in Semtech by 1.0% during the 1st quarter. Clearbridge Investments LLC now owns 192,835 shares of the semiconductor company’s stock valued at $9,817,000 after purchasing an additional 1,860 shares during the last quarter. Nordea Investment Management AB raised its position in Semtech by 1.5% during the 1st quarter. Nordea Investment Management AB now owns 87,223 shares of the semiconductor company’s stock valued at $4,440,000 after purchasing an additional 1,291 shares during the last quarter. Ameritas Investment Corp bought a new position in Semtech during the 1st quarter valued at approximately $37,000. BlueCrest Capital Management Ltd bought a new position in Semtech during the 1st quarter valued at approximately $346,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Semtech by 98.4% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,105 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 548 shares during the last quarter. Hedge funds and other institutional investors own 96.49% of the company’s stock.

The stock has a market cap of $2.94 billion, a P/E ratio of 29.95, a P/E/G ratio of 3.10 and a beta of 1.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.74 and a quick ratio of 3.25.

Semtech (NASDAQ:SMTC) last announced its earnings results on Wednesday, May 29th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.16. Semtech had a return on equity of 14.06% and a net margin of 10.18%. The firm had revenue of $131.40 million during the quarter, compared to analyst estimates of $130.40 million. During the same quarter in the prior year, the company earned $0.47 EPS. The business’s revenue was down 13.5% compared to the same quarter last year. Equities analysts predict that Semtech Co. will post 1.19 earnings per share for the current year.

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Semtech Company Profile (NASDAQ:SMTC)

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

Further Reading: Cash Asset Ratio

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