Martin Burvill Sells 2,500 Shares of Semtech (NASDAQ:SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) Director Martin Burvill sold 2,500 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $88.98, for a total value of $222,450.00. Following the sale, the director directly owned 4,409 shares of the company’s stock, valued at approximately $392,312.82. This represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Semtech Price Performance

Shares of NASDAQ SMTC opened at $90.12 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.66. The stock has a fifty day moving average price of $84.45 and a 200 day moving average price of $76.99. Semtech Corporation has a 1-year low of $24.05 and a 1-year high of $96.46. The company has a market cap of $8.38 billion, a PE ratio of -204.82 and a beta of 2.06.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The firm had revenue of $274.40 million during the quarter, compared to the consensus estimate of $273.14 million. During the same period last year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Sell-side analysts forecast that Semtech Corporation will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Hantz Financial Services Inc. raised its position in Semtech by 243.2% in the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 360 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Semtech in the third quarter valued at $41,000. AlphaQuest LLC increased its position in shares of Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 173 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Semtech by 65.5% in the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 235 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Semtech by 1,745.5% in the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 576 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SMTC shares. Craig Hallum increased their price target on Semtech from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Susquehanna increased their price target on Semtech from $90.00 to $100.00 and gave the stock a “positive” rating in a report on Monday, March 9th. Morgan Stanley increased their price target on Semtech from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. Needham & Company LLC increased their price objective on Semtech from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Finally, Benchmark increased their price objective on Semtech from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.50.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.