Semtech (NASDAQ:SMTC) Reaches New 1-Year High – What’s Next?

Semtech Corporation (NASDAQ:SMTC) hit a new 52-week high during trading on Wednesday . The company traded as high as $92.92 and last traded at $92.8050, with a volume of 105961 shares changing hands. The stock had previously closed at $90.17.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. B. Riley Financial raised their target price on Semtech from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Morgan Stanley set a $67.00 price objective on Semtech in a report on Tuesday, November 25th. Oppenheimer reissued an “outperform” rating and issued a $81.00 price target on shares of Semtech in a research note on Tuesday, November 25th. UBS Group reiterated a “buy” rating on shares of Semtech in a research report on Tuesday, November 25th. Finally, Wall Street Zen lowered shares of Semtech from a “strong-buy” rating to a “buy” rating in a report on Monday, January 26th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and an average target price of $79.21.

Semtech Price Performance

The stock’s 50-day moving average is $80.04 and its 200 day moving average is $70.54. The stock has a market capitalization of $8.59 billion, a PE ratio of 299.44 and a beta of 2.01. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.71 and a current ratio of 2.43.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, November 24th. The semiconductor company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Semtech had a return on equity of 17.00% and a net margin of 2.77%.The company had revenue of $266.97 million during the quarter, compared to analysts’ expectations of $266.36 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts expect that Semtech Corporation will post -0.02 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Asaf Silberstein sold 10,000 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $92.00, for a total value of $920,000.00. Following the completion of the transaction, the chief operating officer owned 68,496 shares in the company, valued at $6,301,632. This trade represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Saar Gillai sold 3,600 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $75.26, for a total transaction of $270,936.00. Following the completion of the sale, the director directly owned 9,523 shares in the company, valued at approximately $716,700.98. The trade was a 27.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,967 shares of company stock valued at $2,236,108 in the last quarter. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Semtech

A number of institutional investors have recently made changes to their positions in SMTC. Jones Financial Companies Lllp raised its position in shares of Semtech by 12,214.3% in the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock valued at $89,000 after buying an additional 2,565 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Semtech by 11.5% in the 1st quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 968 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Semtech by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock worth $14,166,000 after buying an additional 22,629 shares during the period. Strs Ohio purchased a new stake in Semtech during the 1st quarter worth $65,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of Semtech by 123.8% in the second quarter. Asset Management One Co. Ltd. now owns 3,785 shares of the semiconductor company’s stock valued at $171,000 after buying an additional 2,094 shares in the last quarter.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.