Stock Traders Buy Large Volume of Semtech Put Options (SMTC)

Semtech Co. (NASDAQ:SMTC) was the target of some unusual options trading on Thursday. Stock traders purchased 1,505 put options on the company. This represents an increase of approximately 910% compared to the average daily volume of 149 put options.

A number of research firms recently issued reports on SMTC. B. Riley restated a “buy” rating and set a $46.00 price objective (down previously from $48.00) on shares of Semtech in a research report on Monday, November 27th. Zacks Investment Research upgraded Semtech from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Oppenheimer reiterated a “buy” rating and set a $42.00 price target on shares of Semtech in a research report on Sunday, November 19th. BWS Financial began coverage on Semtech in a research report on Monday, November 20th. They set a “buy” rating and a $49.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $42.00 price target on shares of Semtech in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $41.90.

Semtech (NASDAQ SMTC) opened at $34.05 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.20 and a current ratio of 3.80. Semtech has a 12-month low of $31.30 and a 12-month high of $41.95. The stock has a market capitalization of $2,226.32, a price-to-earnings ratio of 49.35, a price-to-earnings-growth ratio of 4.50 and a beta of 1.41.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.04. Semtech had a return on equity of 12.13% and a net margin of 7.79%. The company had revenue of $156.60 million during the quarter, compared to analyst estimates of $155.69 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. sell-side analysts expect that Semtech will post 1.21 earnings per share for the current fiscal year.

In related news, insider Mohan Maheswaran sold 22,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $33.79, for a total transaction of $743,380.00. Following the completion of the transaction, the insider now owns 218,872 shares in the company, valued at approximately $7,395,684.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James Jungsup Kim sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $34.32, for a total value of $51,480.00. Following the transaction, the senior vice president now owns 24,600 shares of the company’s stock, valued at approximately $844,272. The disclosure for this sale can be found here. Insiders have sold a total of 94,784 shares of company stock valued at $3,255,785 in the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of Semtech by 4.5% in the 3rd quarter. Legal & General Group Plc now owns 131,375 shares of the semiconductor company’s stock worth $4,931,000 after buying an additional 5,648 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in shares of Semtech by 4.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,129,920 shares of the semiconductor company’s stock worth $42,428,000 after buying an additional 49,111 shares in the last quarter. State Street Corp raised its stake in shares of Semtech by 4.8% in the 2nd quarter. State Street Corp now owns 1,902,288 shares of the semiconductor company’s stock worth $68,013,000 after buying an additional 86,399 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Semtech by 10.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 138,606 shares of the semiconductor company’s stock worth $4,955,000 after buying an additional 13,182 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Semtech in the 3rd quarter worth $263,000. 96.02% of the stock is currently owned by institutional investors.

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Semtech 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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