Insider Selling: Semtech (SMTC) CFO Sells $78,000.00 in Stock

Semtech (NASDAQ:SMTC) CFO Emeka Chukwu sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $39.00, for a total value of $78,000.00. Following the sale, the chief financial officer now directly owns 90,430 shares of the company’s stock, valued at $3,526,770. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Emeka Chukwu also recently made the following trade(s):

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  • On Wednesday, April 4th, Emeka Chukwu sold 1,900 shares of Semtech stock. The shares were sold at an average price of $39.00, for a total value of $74,100.00.
  • On Thursday, March 15th, Emeka Chukwu sold 2,000 shares of Semtech stock. The shares were sold at an average price of $39.00, for a total value of $78,000.00.
  • On Wednesday, February 28th, Emeka Chukwu sold 2,000 shares of Semtech stock. The shares were sold at an average price of $34.32, for a total value of $68,640.00.
  • On Friday, January 12th, Emeka Chukwu sold 2,000 shares of Semtech stock. The shares were sold at an average price of $38.00, for a total value of $76,000.00.

Shares of SMTC stock opened at $40.00 on Thursday. The company has a market cap of $2,517.82, a PE ratio of 28.57, a price-to-earnings-growth ratio of 6.58 and a beta of 1.18. Semtech has a 12-month low of $31.30 and a 12-month high of $41.95. The company has a quick ratio of 3.09, a current ratio of 3.65 and a debt-to-equity ratio of 0.32.

Semtech (NASDAQ:SMTC) last issued its earnings results on Wednesday, March 14th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $142.11 million during the quarter, compared to the consensus estimate of $140.49 million. Semtech had a return on equity of 13.34% and a net margin of 6.20%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. equities research analysts expect that Semtech will post 1.15 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMTC. Rice Hall James & Associates LLC purchased a new position in Semtech in the 4th quarter valued at approximately $20,515,000. Mesirow Financial Investment Management Equity Management purchased a new position in Semtech in the 4th quarter valued at approximately $14,526,000. Kornitzer Capital Management Inc. KS increased its stake in Semtech by 147.0% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 666,940 shares of the semiconductor company’s stock valued at $22,809,000 after purchasing an additional 396,920 shares in the last quarter. Wells Fargo & Company MN increased its stake in Semtech by 296.3% in the 3rd quarter. Wells Fargo & Company MN now owns 498,698 shares of the semiconductor company’s stock valued at $18,726,000 after purchasing an additional 372,861 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in Semtech by 15.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,465,395 shares of the semiconductor company’s stock valued at $84,317,000 after purchasing an additional 336,213 shares in the last quarter. 97.73% of the stock is owned by hedge funds and other institutional investors.

Several analysts have commented on the company. Piper Jaffray raised Semtech from a “neutral” rating to an “overweight” rating and set a $35.00 price objective for the company in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Semtech in a research note on Friday, March 23rd. BidaskClub raised Semtech from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. ValuEngine raised Semtech from a “hold” rating to a “buy” rating in a research note on Tuesday, March 20th. Finally, Royal Bank of Canada increased their target price on Semtech to $39.00 and gave the stock a “market perform” rating in a research note on Thursday, March 15th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Semtech currently has an average rating of “Buy” and a consensus price target of $43.44.

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About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

Insider Buying and Selling by Quarter for Semtech (NASDAQ:SMTC)

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