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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.