Semtech Corporation (NASDAQ:SMTC) SVP Asaf Silberstein sold 1,500 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $35.48, for a total transaction of $53,220.00. Following the transaction, the senior vice president now owns 32,036 shares of the company’s stock, valued at approximately $1,136,637.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Semtech Corporation (NASDAQ:SMTC) remained flat at $36.00 during trading on Monday. 554,619 shares of the stock traded hands. The firm has a market cap of $2.37 billion, a PE ratio of 40.09 and a beta of 1.42. The company’s 50-day moving average is $36.13 and its 200-day moving average is $34.09. Semtech Corporation has a 52 week low of $22.81 and a 52 week high of $38.40.
Semtech Corporation (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Semtech Corporation had a net margin of 10.70% and a return on equity of 12.16%. The business had revenue of $149.10 million for the quarter, compared to analysts’ expectations of $145.60 million. During the same period in the previous year, the business earned $0.30 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. Equities research analysts anticipate that Semtech Corporation will post $1.85 EPS for the current year.
Several large investors have recently modified their holdings of SMTC. Advisors Asset Management Inc. boosted its stake in shares of Semtech Corporation by 34.1% in the first quarter. Advisors Asset Management Inc. now owns 3,002 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 764 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Semtech Corporation by 74.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,299 shares of the semiconductor company’s stock valued at $112,000 after buying an additional 1,405 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of Semtech Corporation during the fourth quarter valued at approximately $135,000. FNY Partners Fund LP boosted its stake in shares of Semtech Corporation by 515.4% in the first quarter. FNY Partners Fund LP now owns 4,000 shares of the semiconductor company’s stock valued at $135,000 after buying an additional 3,350 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in shares of Semtech Corporation during the first quarter valued at approximately $137,000. Institutional investors and hedge funds own 93.97% of the company’s stock.
A number of brokerages have commented on SMTC. B. Riley restated a “buy” rating and set a $44.00 price objective on shares of Semtech Corporation in a research report on Wednesday, April 5th. Zacks Investment Research upgraded shares of Semtech Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Robert W. Baird reiterated an “outperform” rating and issued a $45.00 price target on shares of Semtech Corporation in a report on Tuesday, June 13th. Royal Bank of Canada reiterated a “hold” rating and issued a $39.00 price target on shares of Semtech Corporation in a report on Thursday. Finally, Drexel Hamilton increased their price target on shares of Semtech Corporation from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, June 1st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $43.50.
Semtech Corporation Company Profile
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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