Semtech (NASDAQ:SMTC) Trading Down 5.9%

Semtech Co. (NASDAQ:SMTC) shares were down 5.9% on Thursday . The stock traded as low as $30.00 and last traded at $30.20. 2,045,119 shares changed hands during trading, an increase of 6% from the average daily volume of 1,938,106 shares. The stock had previously closed at $32.11.

Analyst Ratings Changes

Several analysts have commented on SMTC shares. Stifel Nicolaus lifted their price objective on shares of Semtech from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Piper Sandler reiterated an “overweight” rating and set a $60.00 price target (up previously from $40.00) on shares of Semtech in a research note on Wednesday, May 29th. Susquehanna boosted their price objective on Semtech from $45.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday, June 6th. Roth Mkm increased their target price on shares of Semtech from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Northland Securities lifted their target price on shares of Semtech from $36.50 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Semtech has an average rating of “Moderate Buy” and an average price target of $48.90.

Semtech Stock Performance

The stock has a market capitalization of $2.00 billion, a P/E ratio of -1.83 and a beta of 1.55. The company’s fifty day simple moving average is $33.95 and its 200 day simple moving average is $29.20. The company has a current ratio of 2.40, a quick ratio of 1.74 and a debt-to-equity ratio of 4.11.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.17). The company had revenue of $206.11 million during the quarter, compared to analyst estimates of $200.16 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. As a group, sell-side analysts forecast that Semtech Co. will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Semtech

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Semtech during the 4th quarter valued at about $164,000. ORG Partners LLC raised its stake in shares of Semtech by 16.3% during the fourth quarter. ORG Partners LLC now owns 17,409 shares of the semiconductor company’s stock worth $381,000 after acquiring an additional 2,440 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Semtech in the 4th quarter worth approximately $703,000. Everence Capital Management Inc. purchased a new stake in shares of Semtech in the 4th quarter valued at $213,000. Finally, New York State Common Retirement Fund grew its holdings in shares of Semtech by 16.2% during the 4th quarter. New York State Common Retirement Fund now owns 544,200 shares of the semiconductor company’s stock valued at $11,923,000 after purchasing an additional 76,034 shares during 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.