Semtech Corporation (NASDAQ:SMTC) EVP Gary Beauchamp sold 21,666 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $39.84, for a total value of $863,173.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Semtech Corporation (NASDAQ SMTC) opened at 39.55 on Friday. The company has a market capitalization of $2.62 billion, a P/E ratio of 41.81 and a beta of 1.45. Semtech Corporation has a 52 week low of $22.81 and a 52 week high of $41.15. The company’s 50 day moving average price is $37.38 and its 200-day moving average price is $36.62.
Semtech Corporation (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The company had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $154.91 million. During the same period last year, the business earned $0.35 earnings per share. Semtech Corporation’s quarterly revenue was up 12.7% on a year-over-year basis. Equities research analysts expect that Semtech Corporation will post $1.89 earnings per share for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio grew its holdings in Semtech Corporation by 22.2% in the second quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Semtech Corporation by 2.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 65 shares during the period. FNY Partners Fund LP grew its holdings in 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 purchasing an additional 3,350 shares during the period. Victory Capital Management Inc. acquired a new stake in Semtech Corporation in the first quarter valued at approximately $137,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Semtech Corporation in the first quarter valued at approximately $144,000. 94.39% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on SMTC shares. B. Riley reaffirmed a “buy” rating and set a $48.00 price target on shares of Semtech Corporation in a research report on Thursday, August 24th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $42.00 price target on shares of Semtech Corporation in a research report on Sunday, August 27th. Drexel Hamilton reaffirmed a “buy” rating and set a $45.00 price target on shares of Semtech Corporation in a research report on Thursday, August 31st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $39.00 price target on shares of Semtech Corporation in a research report on Tuesday, October 3rd. Finally, BidaskClub lowered shares of Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus 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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