Price Don’t Lie: Semtech Corporation Sets 52-Week High; Strong Momentum for Holders

Price Don't Lie: Semtech Corporation Sets 52 Week High; Strong Momentum for Holders

The stock of Semtech Corporation (NASDAQ:SMTC) hit a new 52-week high and has $30.68 target or 9.00% above today’s $28.15 share price. The 8 months bullish chart indicates low risk for the $1.85 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $30.68 price target is reached, the company will be worth $166.50M 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. The stock decreased 0.53% or $0.15 during the last trading session, hitting $28.15. About 327,767 shares traded hands. Semtech Corporation (NASDAQ:SMTC) has risen 26.34% since April 25, 2016 and is uptrending. It has outperformed by 20.33% 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 $18.40 million for 25.13 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. Oppenheimer maintained the shares of SMTC in a report on Thursday, August 20 with “Market Perform” rating. The stock of Semtech Corporation (NASDAQ:SMTC) has “Sector Perform” rating given on Tuesday, November 17 by RBC Capital Markets. On Friday, September 25 the stock rating was downgraded by M Partners to “Neutral”. B. Riley & Co upgraded Semtech Corporation (NASDAQ:SMTC) rating on Friday, August 14. B. Riley & Co has “Sell” rating and $19 price target. The stock of Semtech Corporation (NASDAQ:SMTC) has “Buy” rating given on Thursday, September 1 by Drexel Hamilton. The firm has “Sector Perform” rating given on Monday, August 3 by RBC Capital Markets. The stock of Semtech Corporation (NASDAQ:SMTC) has “Buy” rating given on Monday, November 16 by B. Riley & Co.

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 Q2 2016. Its up 0.16, from 1.48 in 2016Q1. The ratio increased, 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.
Reilly Fincl Limited Company holds 7,441 shares or 0.03% of its portfolio. Price T Rowe Associate Md last reported 6.49 million shares in the company. Fincl Bank Of New York Mellon Corp has 1.68 million shares for 0.01% of their US portfolio. Martingale Asset Limited Partnership holds 50,814 shares or 0.02% of its portfolio. Comerica Commercial Bank last reported 66,193 shares in the company. Moreover, Envestnet Asset has 0% invested in Semtech Corporation (NASDAQ:SMTC) for 1,769 shares. Numeric Invsts Ltd Limited Liability Company accumulated 0.03% or 163,000 shares. Scout Invs reported 153,200 shares or 0.1% of all its holdings. Nuveen Asset Mgmt Ltd Liability has 0.01% invested in the company for 50,186 shares. Goldman Sachs Group Incorporated accumulated 1.74M shares or 0.01% of the stock. Quantitative Systematic Strategies, a Connecticut-based fund reported 11,389 shares. First Republic Investment Mngmt holds 0% or 8,715 shares in its portfolio. Fmr Ltd Limited Liability Company holds 0.03% of its portfolio in Semtech Corporation (NASDAQ:SMTC) for 8.16 million shares. Dynamic Mngmt owns 9,275 shares or 0.03% of their US portfolio. Deutsche Comml Bank Ag accumulated 95,523 shares or 0% of the stock.

Insider Transactions: Since June 7, 2016, the stock had 0 buys, and 11 insider sales for $917,538 net activity. The insider HANKIN ROCKELL N sold 2,500 shares worth $60,100. Another trade for 5,000 shares valued at $121,964 was made by LINDSTROM JAMES T on Wednesday, June 8. BURRA JAMES P had sold 5,000 shares worth $122,276 on Wednesday, June 8. On Wednesday, September 7 the insider Costello Mark C sold $83,573. Shares for $120,413 were sold by PIOTROWSKI JOHN L. On Friday, October 14 the insider MAHESWARAN MOHAN sold $37,709. WILSON JOHN MICHAEL had sold 3,000 shares worth $75,463.

Another recent and important Semtech Corporation (NASDAQ:SMTC) news was published by Seekingalpha.com which published an article titled: “Semtech Corporation’s (SMTC) CEO Mohan Maheswaran on Q1 2017 Results …” on June 02, 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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