The stock of Semtech Corporation (NASDAQ:SMTC) is a huge mover today! About 742,327 shares traded hands or 74.88% up from the average. Semtech Corporation (NASDAQ:SMTC) has risen 25.95% since April 28, 2016 and is uptrending. It has outperformed by 20.03% the S&P500.
The move comes after 6 months positive chart setup for the $2.04B company. It was reported on Dec, 1 by Barchart.com. We have $33.80 PT which if reached, will make NASDAQ:SMTC worth $163.20 million 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. Oppenheimer maintained Semtech Corporation (NASDAQ:SMTC) on Thursday, August 20 with “Market Perform” rating. The firm has “Sell” rating by B. Riley & Co given on Friday, August 14. As per Monday, August 3, the company rating was reinitiated by RBC Capital Markets. The firm has “Buy” rating by B. Riley & Co given on Monday, November 16. The stock has “Neutral” rating given by M Partners on Friday, September 25. The stock of Semtech Corporation (NASDAQ:SMTC) earned “Sector Perform” rating by RBC Capital Markets on Tuesday, November 17. The firm has “Buy” rating given on Thursday, September 1 by Drexel Hamilton.
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.
Moreover, Clarivest Asset Mgmt Limited Liability has 0.09% invested in Semtech Corporation (NASDAQ:SMTC) for 125,357 shares. Summit Securities Gru Limited accumulated 0.13% or 10,019 shares. Lpl Financial Ltd Liability has 21,114 shares for 0% of their US portfolio. Moreover, Texas Permanent School Fund has 0.02% invested in Semtech Corporation (NASDAQ:SMTC) for 49,913 shares. Parametric Assoc accumulated 0% or 125,452 shares. Millennium Mgmt Ltd Company holds 0.02% of its portfolio in Semtech Corporation (NASDAQ:SMTC) for 435,282 shares. Manufacturers Life Communication The has 43,466 shares for 0% of their US portfolio. The Iowa-based Principal Gp Incorporated has invested 0.02% in Semtech Corporation (NASDAQ:SMTC). Walleye Trading Ltd Limited Liability Company accumulated 0% or 666 shares. Legal And General Public Ltd Liability holds 15,600 shares or 0% of its portfolio. The California-based Blackrock Fund has invested 0.02% in Semtech Corporation (NASDAQ:SMTC). Ngam Advsr L P has 0.01% invested in the company for 31,379 shares. Pinebridge Investments L P accumulated 8,278 shares or 0.01% of the stock. Moreover, Frontier Llc has 0.48% invested in Semtech Corporation (NASDAQ:SMTC) for 2.44 million shares. Princeton Alpha Limited Partnership holds 9,696 shares or 0.04% of its portfolio.
Insider Transactions: Since June 7, 2016, the stock had 0 insider purchases, and 11 insider sales for $917,538 net activity. WILSON JOHN MICHAEL sold $75,463 worth of Semtech Corporation (NASDAQ:SMTC) on Friday, October 14. $60,100 worth of Semtech Corporation (NASDAQ:SMTC) was sold by HANKIN ROCKELL N on Tuesday, June 7. Costello Mark C had sold 3,042 shares worth $83,573 on Wednesday, September 7. $39,006 worth of Semtech Corporation (NASDAQ:SMTC) was sold by MAHESWARAN MOHAN. On Wednesday, June 8 BURRA JAMES P sold $122,276 worth of the stock or 5,000 shares. The insider LINDSTROM JAMES T sold $121,964. PIOTROWSKI JOHN L also sold $120,413 worth of Semtech Corporation (NASDAQ:SMTC) on Wednesday, June 15.
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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