Semtech (NASDAQ:SMTC) Sets New 1-Year High at $33.13

Shares of Semtech Co. (NASDAQ:SMTC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $33.13 and last traded at $32.98, with a volume of 646510 shares trading hands. The stock had previously closed at $31.48.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SMTC. Robert W. Baird lifted their price target on shares of Semtech from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday. Oppenheimer reiterated a “market perform” rating on shares of Semtech in a research note on Monday. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price target (up from $30.00) on shares of Semtech in a research note on Monday. Northland Securities lifted their price target on shares of Semtech from $30.00 to $36.50 and gave the company an “outperform” rating in a research note on Monday. Finally, Roth Mkm lowered their price target on shares of Semtech from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.35.

Semtech Stock Up 5.2 %

The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -1.97, a price-to-earnings-growth ratio of 12.33 and a beta of 1.85. The firm’s 50 day moving average price is $22.21 and its two-hundred day moving average price is $20.57. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 4.11.

Institutional Trading of Semtech

Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Semtech during the 1st quarter worth about $248,000. Bank of Montreal Can boosted its holdings in shares of Semtech by 24.8% during the 1st quarter. Bank of Montreal Can now owns 5,486 shares of the semiconductor company’s stock worth $397,000 after buying an additional 1,089 shares during the period. Rhumbline Advisers boosted its holdings in shares of Semtech by 2.2% during the 1st quarter. Rhumbline Advisers now owns 180,638 shares of the semiconductor company’s stock worth $12,525,000 after buying an additional 3,874 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Semtech by 10.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,975 shares of the semiconductor company’s stock worth $1,662,000 after buying an additional 2,265 shares during the period. Finally, BlackRock Inc. boosted its holdings in Semtech by 3.7% in the 1st quarter. BlackRock Inc. now owns 7,160,578 shares of the semiconductor company’s stock valued at $496,515,000 after purchasing an additional 257,224 shares during the period.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial 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.