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Semtech Corp. (NASDAQ:SMTC)’s share price reached a new 52-week low during mid-day trading on Friday, AnalystRatingsNetwork.com reports. The stock traded as low as $22.51 and last traded at $23.02, with a volume of 631,280 shares traded. The stock had previously closed at $23.04.

SMTC has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Semtech Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 14th. They now have a $24.20 price target on the stock. Separately, analysts at MKM Partners cut their price target on shares of Semtech Corp. from $38.00 to $33.00 in a research note to investors on Thursday, December 19th. They now have a “buy” rating on the stock. Finally, analysts at Williams Financial Group downgraded shares of Semtech Corp. from a “buy” rating to a “hold” rating in a research note to investors on Thursday, December 19th. They now have a $27.00 price target on the stock, down previously from $32.00. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $32.91.

Semtech Corp. has a 1-year low of $22.57 and a 1-year high of $37.45. The stock’s 50-day moving average is $24.64 and its 200-day moving average is $29.30. The company has a market cap of $1.566 billion and a price-to-earnings ratio of 26.79.

Semtech Corp. (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $141.02 million for the quarter, compared to the consensus estimate of $145.05 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. Analysts expect that Semtech Corp. will post $1.56 EPS for the current fiscal year.

Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.

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