Semtech (NASDAQ:SMTC) Stock Price Down 5.9%

Semtech Co. (NASDAQ:SMTC) fell 5.9% during trading on Thursday . The stock traded as low as $30.00 and last traded at $30.20. 2,045,119 shares changed hands during trading, an increase of 6% from the average session volume of 1,938,106 shares. The stock had previously closed at $32.11.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Semtech from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Stifel Nicolaus boosted their target price on shares of Semtech from $43.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Semtech in a research note on Monday, July 15th. B. Riley boosted their price objective on Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Susquehanna boosted their target price on shares of Semtech from $45.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.90.

Semtech Trading Down 10.0 %

The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.74 and a current ratio of 2.40. The firm has a market capitalization of $1.87 billion, a P/E ratio of -1.79 and a beta of 1.55. The firm has a 50 day simple moving average of $34.35 and a two-hundred day simple moving average of $29.13.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, June 5th. The semiconductor company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. The business had revenue of $206.11 million for the quarter, compared to analyst estimates of $200.16 million. Equities research analysts forecast that Semtech Co. will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Semtech

Large investors have recently modified their holdings of the business. Zweig DiMenna Associates LLC increased its position in shares of Semtech by 159.5% during the second quarter. Zweig DiMenna Associates LLC now owns 194,626 shares of the semiconductor company’s stock valued at $5,815,000 after buying an additional 119,626 shares during the period. Louisiana State Employees Retirement System increased its holdings in Semtech by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock worth $971,000 after acquiring an additional 700 shares during the period. Neo Ivy Capital Management purchased a new stake in Semtech in the 2nd quarter worth approximately $807,000. Nisa Investment Advisors LLC boosted its holdings in Semtech by 6.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 461 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Semtech during the 2nd quarter valued at $13,239,000.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.