Price Action Report: Is Buying Semtech Corporation Here a Winning Strategy?

Price Action Report: Is Buying Semtech Corporation Here a Winning Strategy?

The stock of Semtech Corporation (NASDAQ:SMTC) is a huge mover today! About 536,437 shares traded hands or 22.02% up from the average. Semtech Corporation (NASDAQ:SMTC) has risen 11.76% since April 14, 2016 and is uptrending. It has outperformed by 7.07% the S&P500.
The move comes after 8 months positive chart setup for the $1.77 billion company. It was reported on Nov, 16 by Barchart.com. We have $38.10 PT which if reached, will make NASDAQ:SMTC worth $725.70M more.

Semtech Corporation (NASDAQ:SMTC) Ratings Coverage

Out of 5 analysts covering Semtech (NASDAQ:SMTC), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Semtech has been the topic of 10 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Semtech Corporation (NASDAQ:SMTC) earned “Buy” rating by B. Riley & Co on Monday, November 16. The firm earned “Neutral” rating on Friday, September 25 by M Partners. The company was reinitiated on Monday, August 3 by RBC Capital Markets. The stock has “Sell” rating given by B. Riley & Co on Friday, August 14. On Thursday, August 20 the stock rating was maintained by Oppenheimer with “Market Perform”. Drexel Hamilton maintained Semtech Corporation (NASDAQ:SMTC) rating on Thursday, September 1. Drexel Hamilton has “Buy” rating and $32 price target. The stock of Semtech Corporation (NASDAQ:SMTC) earned “Sector Perform” rating by RBC Capital Markets on Tuesday, November 17.

According to Zacks Investment Research, “Semtech designs, manufactures and markets a wide range of analog and mixed- signal semiconductors, including Standard Semiconductor Products, Rectifier and Assembly Products and Other Products. The Company’s devices are used in a variety of applications including computer, communications, industrial, military-aerospace and automotive. The Company also provides a limited amount of wafer foundry services to other electronic component manufacturers.”

Insitutional Activity: The institutional sentiment increased to 1.48 in Q2 2016. Its up 0.13, from 1.35 in 2016Q1. The ratio improved, as 19 funds sold all Semtech Corporation shares owned while 44 reduced positions. 33 funds bought stakes while 60 increased positions. They now own 61.89 million shares or 0.71% less from 62.34 million shares in 2016Q1.
Capital Research Global has invested 0.01% of its portfolio in Semtech Corporation (NASDAQ:SMTC). Walleye Trading Ltd Liability Com holds 0% of its portfolio in Semtech Corporation (NASDAQ:SMTC) for 666 shares. Texas Permanent School Fund has 0.02% invested in the company for 49,913 shares. Renaissance Techs Limited Liability accumulated 395,100 shares or 0.02% of the stock. Royal Bancorp Of Canada reported 702,020 shares or 0.01% of all its holdings. Cs Mckee Lp reported 72,800 shares or 0.07% of all its holdings. Globeflex Ltd Partnership has 0.33% invested in the company for 50,590 shares. Blackrock Japan has 2,041 shares for 0% of their US portfolio. The United Kingdom-based Blackrock Gp Ltd has invested 0% in Semtech Corporation (NASDAQ:SMTC). Ngam Advisors Limited Partnership holds 31,379 shares or 0.01% of its portfolio. Martingale Asset Management L P holds 0.02% of its portfolio in Semtech Corporation (NASDAQ:SMTC) for 50,814 shares. State Of Tennessee Treasury Department holds 52,804 shares or 0.01% of its portfolio. Teachers Incorporated last reported 0% of its portfolio in the stock. The Virginia-based Thompson Davis And has invested 0% in Semtech Corporation (NASDAQ:SMTC). Summit Securities last reported 0.13% of its portfolio in the stock.

Insider Transactions: Since June 7, 2016, the stock had 0 insider buys, and 11 selling transactions for $917,538 net activity. The insider Costello Mark C sold 3,042 shares worth $83,573. PIOTROWSKI JOHN L sold $120,413 worth of stock or 5,000 shares. $75,463 worth of Semtech Corporation (NASDAQ:SMTC) was sold by WILSON JOHN MICHAEL on Friday, October 14. 6,795 Semtech Corporation (NASDAQ:SMTC) shares with value of $188,439 were sold by HANKIN ROCKELL N. 1,500 shares were sold by MAHESWARAN MOHAN, worth $39,598 on Wednesday, September 14. On Wednesday, June 8 the insider LINDSTROM JAMES T sold $121,964. Shares for $122,276 were sold by BURRA JAMES P.

More news for Semtech Corporation (NASDAQ:SMTC) were recently published by: Globenewswire.com, which released: “Semtech to Lead UHD-SDI Standards and Technology Seminar at Inter BEE” on November 13, 2016. Seekingalpha.com‘s article titled: “Semtech Corporation’s (SMTC) CEO Mohan Maheswaran on Q1 2017 Results …” and published on June 02, 2016 is yet another important article.

SMTC Company Profile

Semtech Corporation, incorporated on December 19, 1960, is a supplier of analog and mixed-signal semiconductor products. The Firm designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. Applications for the industrial market include video broadcast studio equipment, automated meter reading, smart grid, wireless charging, military and aerospace, medical, security systems, automotive, Internet of Things (IoT), industrial and home automation, video security and surveillance, and other industrial equipment. Enterprise computing end-markets include desktops, notebooks, servers, graphic boards, printers, monitors, datacenter related equipment, passive optical networks, storage networks and computer peripherals. Communications end-market applications include third generation (3G) or fourth generation (4G) or Long Term Evolution (LTE) wireless base stations, long-haul optical networks, carrier networks, switches and routers, cable modems, signal conditioners, wireless local area network (LAN) and other communication infrastructure equipment.

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