Semtech Co. (NASDAQ:SMTC - Get Free Report)'s share price was down 7.9% during trading on Friday . The company traded as low as $43.48 and last traded at $43.58. Approximately 934,777 shares traded hands during trading, a decline of 48% from the average daily volume of 1,811,163 shares. The stock had previously closed at $47.33.
Analyst Ratings Changes
A number of research firms have recently weighed in on SMTC. B. Riley upped their target price on Semtech from $58.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. Roth Mkm reiterated a "buy" rating and set a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights cut shares of Semtech from a "buy" rating to a "hold" rating in a research report on Wednesday, August 28th. Benchmark reiterated a "buy" rating and set a $56.00 price target on shares of Semtech in a research report on Monday, October 7th. Finally, Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Semtech has an average rating of "Moderate Buy" and an average price target of $52.60.
Get Our Latest Analysis on SMTC
Semtech Trading Down 6.8 %
The company has a market capitalization of $3.32 billion, a P/E ratio of -3.25 and a beta of 1.54. The stock has a 50 day moving average price of $44.72 and a 200 day moving average price of $38.53.
Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The firm had revenue of $215.40 million for the quarter, compared to analyst estimates of $212.30 million. During the same period last year, the firm posted ($0.06) earnings per share. The business's revenue for the quarter was down 9.6% on a year-over-year basis. On average, research analysts predict that Semtech Co. will post -0.07 EPS for the current year.
Institutional Trading of Semtech
A number of institutional investors and hedge funds have recently bought and sold shares of SMTC. Vanguard Group Inc. raised its holdings in Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company's stock worth $232,522,000 after purchasing an additional 131,133 shares during the last quarter. Seven Eight Capital LP raised its stake in Semtech by 259.4% during the first quarter. Seven Eight Capital LP now owns 51,573 shares of the semiconductor company's stock worth $1,418,000 after buying an additional 37,224 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Semtech in the second quarter valued at $13,239,000. Harbor Capital Advisors Inc. boosted its position in Semtech by 135.9% during the third quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company's stock valued at $1,943,000 after acquiring an additional 24,517 shares during the last quarter. Finally, SG Capital Management LLC acquired a new stake in Semtech during the 1st quarter worth about $7,084,000.
Semtech Company Profile
(
Get Free Report)
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.
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