Semtech Co. (NASDAQ:SMTC - Get Free Report) CFO Mark Lin sold 6,114 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total value of $401,934.36. Following the completion of the sale, the chief financial officer now owns 3,531 shares of the company's stock, valued at $232,127.94. This trade represents a 63.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Semtech Stock Up 1.0 %
Shares of NASDAQ:SMTC opened at $63.58 on Friday. Semtech Co. has a fifty-two week low of $18.16 and a fifty-two week high of $70.27. The firm's 50 day moving average price is $53.30 and its 200 day moving average price is $42.11. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of -4.87 and a beta of 1.65.
Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million for the quarter, compared to analysts' expectations of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. Semtech's quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share. On average, equities analysts anticipate that Semtech Co. will post -0.01 EPS for the current year.
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A number of equities research analysts recently issued reports on SMTC shares. Northland Securities upped their price objective on shares of Semtech from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. Susquehanna lifted their price target on shares of Semtech from $55.00 to $60.00 and gave the company a "positive" rating in a research report on Thursday, November 21st. Stifel Nicolaus lifted their target price on Semtech from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Summit Insights cut Semtech from a "buy" rating to a "hold" rating in a report on Wednesday, August 28th. Finally, Roth Mkm upped their target price on shares of Semtech from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $68.70.
Read Our Latest Stock Analysis on Semtech
Institutional Investors Weigh In On Semtech
Several large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in Semtech by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company's stock worth $214,000 after purchasing an additional 461 shares during the period. Louisiana State Employees Retirement System increased its position in Semtech by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company's stock valued at $971,000 after acquiring an additional 700 shares during the period. Zweig DiMenna Associates LLC raised its stake in Semtech by 159.5% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 194,626 shares of the semiconductor company's stock valued at $5,815,000 after acquiring an additional 119,626 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Semtech during the 2nd quarter worth approximately $85,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Semtech in the 2nd quarter valued at approximately $44,000.
About Semtech
(
Get Free Report)
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.
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