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

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

Analyst Upgrades and Downgrades

SMTC has been the subject of several research analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Semtech in a report on Monday, April 1st. Robert W. Baird upped their price objective on shares of Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Northland Securities upped their price objective on shares of Semtech from $30.00 to $36.50 and gave the stock an “outperform” rating in a report on Monday, April 1st. Craig Hallum upped their price objective on shares of Semtech from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Susquehanna upped their price objective on shares of Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a report on Monday, April 1st. One investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $39.35.

Semtech Stock Performance

The company has a fifty day simple moving average of $22.69 and a 200-day simple moving average of $20.72. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.72 and a current ratio of 2.46.

Institutional Trading of Semtech

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in Semtech by 83.9% during the 1st quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock worth $47,000 after buying an additional 773 shares during the period. Moody National Bank Trust Division acquired a new stake in Semtech during the 1st quarter worth about $243,000. Versant Capital Management Inc raised its holdings in Semtech by 205.0% during the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock worth $51,000 after buying an additional 1,259 shares during the period. Goldman Sachs Group Inc. raised its holdings in Semtech by 19.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,217,670 shares of the semiconductor company’s stock worth $26,679,000 after buying an additional 197,595 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Semtech by 431.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 827,582 shares of the semiconductor company’s stock valued at $18,133,000 after purchasing an additional 671,885 shares during the period.

About Semtech

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.