Investors Buy Large Volume of Call Options on Semtech (SMTC)

Semtech (NASDAQ:SMTC) was the target of some unusual options trading on Thursday. Stock investors acquired 1,601 call options on the company. This represents an increase of 1,659% compared to the average daily volume of 91 call options.

Several brokerages have recently weighed in on SMTC. ValuEngine upgraded Semtech from a “hold” rating to a “buy” rating in a report on Tuesday, March 20th. BidaskClub lowered Semtech from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 24th. Summit Insights raised Semtech from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. Needham & Company LLC began coverage on Semtech in a research report on Monday, December 11th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Piper Jaffray raised Semtech from a “neutral” rating to an “overweight” rating and set a $35.00 target price on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $43.44.

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In other Semtech news, insider Mohan Maheswaran sold 22,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $32.63, for a total transaction of $717,860.00. Following the completion of the transaction, the insider now owns 196,872 shares in the company, valued at approximately $6,423,933.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles B. Ammann sold 2,250 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $37.00, for a total value of $83,250.00. Following the completion of the sale, the executive vice president now owns 14,905 shares of the company’s stock, valued at approximately $551,485. The disclosure for this sale can be found here. Insiders sold a total of 152,713 shares of company stock valued at $5,557,098 over the last quarter. Company insiders own 2.10% of the company’s stock.

Several large investors have recently bought and sold shares of SMTC. Elkfork Partners LLC acquired a new stake in shares of Semtech in the 4th quarter valued at about $215,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Semtech in the 4th quarter valued at about $215,000. MetLife Investment Advisors LLC acquired a new stake in shares of Semtech in the 4th quarter valued at about $1,015,000. Macquarie Group Ltd. raised its stake in shares of Semtech by 8.1% in the 4th quarter. Macquarie Group Ltd. now owns 1,237,974 shares of the semiconductor company’s stock valued at $42,339,000 after purchasing an additional 92,809 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in shares of Semtech in the 4th quarter valued at about $1,094,000. Institutional investors and hedge funds own 97.73% of the company’s stock.

Semtech stock traded down $0.08 during trading hours on Friday, hitting $40.90. The stock had a trading volume of 1,494,801 shares, compared to its average volume of 906,454. Semtech has a fifty-two week low of $31.30 and a fifty-two week 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. The stock has a market cap of $2,720.71, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 7.11 and a beta of 1.18.

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 the Zacks’ consensus estimate of $0.41 by $0.01. The business had revenue of $142.11 million during the quarter, compared to analysts’ expectations of $140.49 million. Semtech had a return on equity of 13.34% and a net margin of 6.20%. Semtech’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. analysts expect that Semtech will post 1.15 earnings per share for the current fiscal year.

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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.

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