Semtech (NASDAQ:SMTC) Sees Unusually-High Trading Volume – What’s Next?

Shares of Semtech Co. (NASDAQ:SMTC) saw unusually-strong trading volume on Monday . Approximately 3,647,188 shares traded hands during mid-day trading, an increase of 62% from the previous session’s volume of 2,244,783 shares.The stock last traded at $37.01 and had previously closed at $54.51.

Analyst Ratings Changes

A number of equities analysts recently commented on SMTC shares. UBS Group initiated coverage on Semtech in a report on Friday, January 17th. They issued a “buy” rating and a $85.00 price objective on the stock. Needham & Company LLC dropped their price target on shares of Semtech from $74.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday. Roth Mkm raised their price target on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Craig Hallum upped their price objective on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Benchmark raised their target price on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average target price of $67.91.

Semtech Price Performance

The business has a 50 day moving average price of $64.77 and a 200 day moving average price of $50.85. The firm has a market capitalization of $2.89 billion, a P/E ratio of -2.93, a price-to-earnings-growth ratio of 2.98 and a beta of 1.64.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share.

Insiders Place Their Bets

In related news, SVP Imran Sherazi sold 2,946 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the sale, the senior vice president now owns 6,317 shares of the company’s stock, valued at $399,866.10. The trade was a 31.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark Lin sold 6,114 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the transaction, the chief financial officer now owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. This represents a 63.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,747 shares of company stock worth $1,095,061 in the last ninety days. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Semtech

A number of hedge funds have recently modified their holdings of SMTC. Hollencrest Capital Management acquired a new stake in Semtech in the 4th quarter valued at $31,000. Huntington National Bank lifted its holdings in shares of Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 302 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 505 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Semtech by 173.5% in the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 772 shares during the last quarter. Finally, NBC Securities Inc. increased its position in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 739 shares in the last quarter.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor 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.