Semtech (NASDAQ:SMTC) Sets New 12-Month Low – Should You Sell?

Semtech Co. (NASDAQ:SMTC) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $25.17 and last traded at $26.43, with a volume of 707957 shares trading hands. The stock had previously closed at $29.71.

Wall Street Analysts Forecast Growth

SMTC has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Benchmark cut their price target on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Craig Hallum decreased their price objective on shares of Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, March 14th. UBS Group lowered their price target on Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of Semtech in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Semtech has an average rating of “Moderate Buy” and a consensus target price of $61.55.

Semtech Trading Down 5.7 %

The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -2.15, a PEG ratio of 2.12 and a beta of 1.85. The stock’s 50 day moving average price is $41.67 and its two-hundred day moving average price is $50.74.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. The business’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS. On average, sell-side analysts forecast that Semtech Co. will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Semtech

In other news, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the sale, the chief operating officer now owns 76,417 shares of the company’s stock, valued at approximately $5,349,190. The trade was a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the transaction, the senior vice president now directly owns 14 shares in the company, valued at approximately $1,050. The trade was a 98.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,125 shares of company stock valued at $905,394. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC grew its position in Semtech by 27.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,567 shares of the semiconductor company’s stock worth $97,000 after acquiring an additional 337 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Semtech by 15.3% in the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock worth $196,000 after acquiring an additional 421 shares during the period. Hollencrest Capital Management acquired a new stake in Semtech during the fourth quarter worth $31,000. Dunhill Financial LLC acquired a new stake in shares of Semtech during the 4th quarter valued at about $31,000. Finally, Smartleaf Asset Management LLC grew 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 during the period.

About Semtech

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.