Semtech (NASDAQ:SMTC) Sees Strong Trading Volume

Semtech Co. (NASDAQ:SMTC) shares saw unusually-strong trading volume on Wednesday . Approximately 1,366,724 shares were traded during trading, an increase of 22% from the previous session’s volume of 1,124,805 shares.The stock last traded at $26.22 and had previously closed at $25.17.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SMTC. Needham & Company LLC cut their price objective on Semtech from $35.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, December 7th. Susquehanna lifted their price target on shares of Semtech from $25.00 to $30.00 and gave the company a “positive” rating in a research report on Thursday, March 14th. Stifel Nicolaus upped their price objective on shares of Semtech from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Robert W. Baird reiterated an “outperform” rating and issued a $40.00 target price on shares of Semtech in a report on Tuesday. Finally, Roth Mkm lowered their price target on Semtech from $46.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Semtech currently has an average rating of “Moderate Buy” and an average price target of $33.10.

Semtech Stock Down 1.3 %

The firm has a 50 day moving average of $21.63 and a 200-day moving average of $20.45. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.39 and a quick ratio of 1.72. The stock has a market capitalization of $1.77 billion, a P/E ratio of -3.51, a price-to-earnings-growth ratio of 16.25 and a beta of 1.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Semtech by 29.7% in the 1st quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock valued at $291,861,000 after buying an additional 2,769,314 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Semtech by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,576,015 shares of the semiconductor company’s stock worth $193,401,000 after buying an additional 151,730 shares during the period. State Street Corp grew its position in Semtech by 16.1% in the second quarter. State Street Corp now owns 4,382,903 shares of the semiconductor company’s stock valued at $111,589,000 after acquiring an additional 606,593 shares during the period. Ameriprise Financial Inc. raised its stake in Semtech by 58.9% during the third quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock worth $101,927,000 after acquiring an additional 1,466,665 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of Semtech by 49.6% during the first quarter. Macquarie Group Ltd. now owns 2,180,522 shares of the semiconductor company’s stock valued at $52,638,000 after acquiring an additional 722,908 shares during the period.

Semtech Company Profile

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.