NEW YORK ( TheStreet) -- Semtech Corporation (Nasdaq: SMTC) hit a new 52-week high Thursday as it is currently trading at $28.36, above its previous 52-week high of $28.33 with 97,043 shares traded as of 1:21 p.m. ET. Average volume has been 617,600 shares over the past 30 days.

Semtech has a market cap of $1.8 billion and is part of the technology sector and electronics industry. Shares are up 21.8% year to date as of the close of trading on Wednesday.

Semtech Corporation, together with its subsidiaries, engages in the design, development, manufacture, and marketing of analog and mixed-signal semiconductor products. The company has a P/E ratio of 24.9, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Semtech as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Semtech Ratings Report.

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