Semtech Co. (NASDAQ:SMTC - Get Free Report) SVP Imran Sherazi sold 2,946 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the sale, the senior vice president now directly owns 6,317 shares of the company's stock, valued at $399,866.10. The trade was a 31.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Semtech Price Performance
Shares of SMTC stock opened at $62.88 on Tuesday. Semtech Co. has a 1-year low of $18.16 and a 1-year high of $70.27. The business's fifty day moving average price is $54.04 and its 200 day moving average price is $42.52. The firm has a market capitalization of $4.76 billion, a PE ratio of -4.82 and a beta of 1.65.
Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business's revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 EPS. Equities research analysts expect that Semtech Co. will post -0.01 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Last time you’ll see this priced at $1.00
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Several analysts recently commented on SMTC shares. Northland Securities upped their price target on shares of Semtech from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. B. Riley increased their target price on shares of Semtech from $61.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Susquehanna boosted their price target on Semtech from $55.00 to $60.00 and gave the company a "positive" rating in a research report on Thursday, November 21st. Needham & Company LLC increased their price objective on Semtech from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Finally, Craig Hallum boosted their target price on Semtech from $48.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.70.
Get Our Latest Report on Semtech
Institutional Investors Weigh In On Semtech
Several institutional investors have recently modified their holdings of SMTC. Nisa Investment Advisors LLC raised its holdings in Semtech by 6.9% during the second 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 last quarter. Louisiana State Employees Retirement System raised its stake in shares of Semtech by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company's stock worth $971,000 after buying an additional 700 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Semtech in the 2nd quarter worth about $85,000. Ridgewood Investments LLC acquired a new stake in Semtech in the 2nd quarter valued at about $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Semtech by 4.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,482 shares of the semiconductor company's stock valued at $463,000 after acquiring an additional 710 shares in the last quarter.
About Semtech
(
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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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