The stock of Semtech Corporation (NASDAQ:SMTC) hit a new 52-week high and has $30.01 target or 7.00% above today’s $28.05 share price. The 7 months bullish chart indicates low risk for the $1.90B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $30.01 price target is reached, the company will be worth $133.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 128,488 shares traded hands. Semtech Corporation (NASDAQ:SMTC) has risen 25.89% since April 21, 2016 and is uptrending. It has outperformed by 20.56% the S&P500.
Analysts await Semtech Corporation (NASDAQ:SMTC) to report earnings on November, 30 after the close. They expect $0.28 earnings per share, up 133.33% or $0.16 from last year’s $0.12 per share. SMTC’s profit will be $18.97M for 25.04 P/E if the $0.28 EPS becomes a reality. After $0.29 actual earnings per share reported by Semtech Corporation for the previous quarter, Wall Street now forecasts -3.45% negative EPS growth.
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) has “Sell” rating given on Friday, August 14 by B. Riley & Co. On Monday, November 16 the stock rating was upgraded by B. Riley & Co to “Buy”. As per Thursday, August 20, the company rating was maintained by Oppenheimer. As per Tuesday, November 17, the company rating was maintained by RBC Capital Markets. Drexel Hamilton maintained the stock with “Buy” rating in Thursday, September 1 report. On Monday, August 3 the stock rating was reinitiated by RBC Capital Markets with “Sector Perform”. The stock of Semtech Corporation (NASDAQ:SMTC) has “Neutral” rating given on Friday, September 25 by M Partners.
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 1.64 in 2016 Q2. Its up 0.16, from 1.48 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.
Cs Mckee L P owns 72,800 shares or 0.07% of their US portfolio. Texas Permanent School Fund has 0.02% invested in the company for 49,913 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% or 1,651 shares in its portfolio. Martingale Asset Mngmt Lp last reported 50,814 shares in the company. Oberweis Asset Mngmt Incorporated accumulated 0.17% or 23,500 shares. Morgan Stanley has invested 0% of its portfolio in Semtech Corporation (NASDAQ:SMTC). Oxford Asset Mngmt holds 9,104 shares or 0.01% of its portfolio. Prudential Public Ltd Co last reported 0.06% of its portfolio in the stock. Princeton Alpha Mgmt Ltd Partnership accumulated 9,696 shares or 0.04% of the stock. Thrivent Financial For Lutherans has invested 0% of its portfolio in Semtech Corporation (NASDAQ:SMTC). First Republic Management Inc accumulated 8,715 shares or 0% of the stock. Gemmer Asset Limited Liability has 0% invested in the company for 168 shares. Pnc Fin Ser Gp Inc accumulated 0% or 519 shares. Ahl Limited Liability Partnership holds 0.02% or 16,653 shares in its portfolio. Principal Finance Group last reported 468,005 shares in the company.
Insider Transactions: Since June 7, 2016, the stock had 0 buys, and 11 sales for $917,538 net activity. $120,413 worth of Semtech Corporation (NASDAQ:SMTC) shares were sold by PIOTROWSKI JOHN L. Another trade for 1,500 shares valued at $37,709 was made by MAHESWARAN MOHAN on Friday, October 14. Shares for $121,964 were sold by LINDSTROM JAMES T on Wednesday, June 8. Shares for $122,276 were sold by BURRA JAMES P. $60,100 worth of Semtech Corporation (NASDAQ:SMTC) was sold by HANKIN ROCKELL N. Another trade for 1,183 shares valued at $28,997 was made by Costello Mark C on Wednesday, June 8. $75,463 worth of Semtech Corporation (NASDAQ:SMTC) was sold by WILSON JOHN MICHAEL.
More news for Semtech Corporation (NASDAQ:SMTC) were recently published by: Globenewswire.com, which released: “Semtech UHD-SDI Broadcast Semiconductors Enable Panasonic’s Next-Generation …” on November 16, 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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