Semtech Co. (SMTC) Short Interest Update

Semtech Co. (NASDAQ:SMTC) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 1,137,186 shares, a drop of 23.5% from the February 28th total of 1,485,642 shares. Based on an average daily trading volume, of 857,456 shares, the short-interest ratio is presently 1.3 days. Currently, 1.7% of the company’s stock are sold short.

A number of research analysts have weighed in on the stock. BidaskClub lowered shares of Semtech from a “sell” rating to a “strong sell” rating in a research note on Saturday, February 24th. ValuEngine raised shares of Semtech from a “hold” rating to a “buy” rating in a research note on Tuesday, March 20th. Summit Insights raised shares of Semtech from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. Needham & Company LLC initiated coverage on shares of Semtech in a research report on Monday, December 11th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Roth Capital initiated coverage on shares of Semtech in a research report on Friday, January 5th. They set a “buy” rating and a $39.00 price target on the stock. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $43.44.

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NASDAQ:SMTC opened at $39.05 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.65. Semtech has a fifty-two week low of $31.30 and a fifty-two week high of $41.95. The stock has a market cap of $2,597.65, a P/E ratio of 27.89, a PEG ratio of 6.79 and a beta of 1.41.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, March 14th. The semiconductor company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Semtech had a net margin of 6.20% and a return on equity of 13.34%. The company had revenue of $142.11 million for the quarter, compared to analyst estimates of $140.49 million. During the same period last year, the firm earned $0.37 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. equities research analysts predict that Semtech will post 1.15 EPS for the current fiscal year.

In other Semtech news, insider Mohan Maheswaran sold 22,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $32.63, for a total value of $717,860.00. Following the transaction, the insider now directly owns 196,872 shares of the company’s stock, valued at $6,423,933.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Simon A. Brown sold 2,000 shares of the firm’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $39.36, for a total transaction of $78,720.00. Following the completion of the transaction, the vice president now directly owns 16,142 shares in the company, valued at $635,349.12. The disclosure for this sale can be found here. Insiders sold 150,313 shares of company stock worth $5,459,073 over the last ninety days. Insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new stake in Semtech during the third quarter worth about $133,000. Stifel Financial Corp purchased a new stake in Semtech during the third quarter worth about $209,000. Xact Kapitalforvaltning AB purchased a new stake in Semtech during the fourth quarter worth about $215,000. Elkfork Partners LLC purchased a new stake in Semtech during the fourth quarter worth about $215,000. Finally, Suntrust Banks Inc. purchased a new stake in Semtech during the fourth quarter worth about $237,000. 97.73% of the stock is currently owned by institutional investors.

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About Semtech

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.

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