Semtech (NASDAQ:SMTC) Hits New 1-Year High – Should You Buy?

Semtech Corporation (NASDAQ:SMTC)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $129.48 and last traded at $129.0580, with a volume of 134507 shares changing hands. The stock had previously closed at $121.81.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SMTC shares. Stifel Nicolaus raised their price target on Semtech from $90.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Susquehanna raised their price target on Semtech from $90.00 to $100.00 and gave the company a “positive” rating in a report on Monday, March 9th. Oppenheimer raised their target price on Semtech from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Weiss Ratings cut Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, March 24th. Finally, Craig Hallum raised their target price on Semtech from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.71.

Semtech Trading Down 3.3%

The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average of $92.45 and a 200 day moving average of $82.16. The company has a market cap of $12.30 billion, a P/E ratio of -300.18 and a beta of 2.22.

Semtech (NASDAQ:SMTC) last posted its earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $274.40 million for the quarter, compared to analyst estimates of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. On average, analysts predict that Semtech Corporation will post 1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jason Elliot Green sold 7,500 shares of Semtech stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total transaction of $612,975.00. Following the completion of the sale, the executive vice president owned 8,811 shares of the company’s stock, valued at approximately $720,123.03. This trade represents a 45.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Lin sold 9,186 shares of Semtech stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $75.05, for a total value of $689,409.30. Following the sale, the chief financial officer directly owned 32,710 shares of the company’s stock, valued at $2,454,885.50. This represents a 21.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 36,384 shares of company stock valued at $3,000,140 in the last 90 days. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Semtech

Large investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise bought a new stake in Semtech during the first quarter valued at $33,000. Hantz Financial Services Inc. boosted its stake in Semtech by 243.2% during the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 360 shares during the period. AlphaQuest LLC lifted its stake in Semtech by 42.5% during the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 173 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Semtech by 65.5% during the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 235 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Semtech by 1,745.5% during the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 576 shares during the last quarter.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.