The stock of Semtech Corporation (NASDAQ:SMTC) hit a new 52-week high and has $36.21 target or 30.00% above today’s $27.85 share price. The 9 months bullish chart indicates low risk for the $1.83B company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $36.21 price target is reached, the company will be worth $549.00 million 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 317,473 shares traded hands. Semtech Corporation (NASDAQ:SMTC) has risen 49.11% since February 26, 2016 and is uptrending. It has outperformed by 38.69% the S&P500.
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 firm has “Market Perform” rating given on Thursday, August 20 by Oppenheimer. The rating was reinitiated by RBC Capital Markets on Monday, August 3 with “Sector Perform”. The stock has “Neutral” rating given by M Partners on Friday, September 25. The rating was upgraded by B. Riley & Co to “Sell” on Friday, August 14. B. Riley & Co upgraded Semtech Corporation (NASDAQ:SMTC) on Monday, November 16 to “Buy” rating. Drexel Hamilton maintained Semtech Corporation (NASDAQ:SMTC) rating on Thursday, September 1. Drexel Hamilton has “Buy” rating and $32 price target. As per Tuesday, November 17, the company rating was maintained by RBC Capital Markets.
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.
Clearbridge Limited Liability Company last reported 0.19% of its portfolio in the stock. Tiaa Cref Investment Mngmt Limited Liability Co, a New York-based fund reported 265,508 shares. State Of Wisconsin Board holds 0.02% of its portfolio in Semtech Corporation (NASDAQ:SMTC) for 198,520 shares. Lpl Financial Llc last reported 21,114 shares in the company. Great West Life Assurance Can holds 6,876 shares or 0% of its portfolio. Citigroup has 0% invested in the company for 27,920 shares. The Massachusetts-based Loomis Sayles Company L P has invested 0.02% in Semtech Corporation (NASDAQ:SMTC). The Illinois-based Zacks Investment has invested 0.01% in Semtech Corporation (NASDAQ:SMTC). Thrivent Fin For Lutherans reported 31,700 shares or 0% of all its holdings. Moreover, Martingale Asset Lp has 0.02% invested in Semtech Corporation (NASDAQ:SMTC) for 50,814 shares. Blackrock Fund has 4.29M shares for 0.02% of their US portfolio. Fny Managed Accounts Ltd holds 0% of its portfolio in Semtech Corporation (NASDAQ:SMTC) for 9,900 shares. Swiss Savings Bank reported 106,500 shares or 0% of all its holdings. New York State Common Retirement Fund, a New York-based fund reported 75,870 shares. Envestnet Asset Management accumulated 1,769 shares or 0% of the stock.
Insider Transactions: Since June 7, 2016, the stock had 0 insider purchases, and 8 insider sales for $615,927 net activity. The insider PIOTROWSKI JOHN L sold $120,413. MAHESWARAN MOHAN sold 1,500 shares worth $39,598. The insider BURRA JAMES P sold $122,276. On Wednesday, June 8 Costello Mark C sold $28,997 worth of the stock or 1,183 shares. The insider LINDSTROM JAMES T sold $121,964. HANKIN ROCKELL N had sold 2,500 shares worth $60,100 on Tuesday, June 7.
More notable recent Semtech Corporation (NASDAQ:SMTC) news were published by: Globenewswire.com which released: “Semtech Introduces Combination Laser Driver and Limiting Amplifier Platform …” on September 06, 2016, also Globenewswire.com with their article: “Semtech Optical Networking Solutions for Next-Generation Networks on Display …” published on September 15, 2016, Benzinga.com published: “Semtech Executing Well, BlueFin Expects A Modest Estimate Beat” on August 24, 2016. More interesting news about Semtech Corporation (NASDAQ:SMTC) were released by: Seekingalpha.com and their article: “Semtech Corporation’s (SMTC) CEO Mohan Maheswaran on Q1 2017 Results …” published on June 02, 2016 as well as Globenewswire.com‘s news article titled: “Semtech Launches Retiming Cable Equalizer and Cable Driver for Next-Generation …” with publication date: September 09, 2016.
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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