Semtech (NASDAQ:SMTC) Director Sells $52,965.00 in Stock

Semtech Corporation (NASDAQ:SMTC) Director Paul Walsh, Jr. sold 500 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $105.93, for a total value of $52,965.00. Following the completion of the sale, the director owned 23,779 shares in the company, valued at approximately $2,518,909.47. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Performance

Shares of Semtech stock opened at $109.79 on Monday. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of -249.52 and a beta of 2.06. The stock’s 50-day moving average is $87.26 and its 200-day moving average is $78.90. Semtech Corporation has a one year low of $28.91 and a one year high of $113.05. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.66.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $274.40 million for the quarter, compared to analyst estimates of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 earnings per share. Equities analysts predict that Semtech Corporation will post 1.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on SMTC shares. Susquehanna upped their target price on Semtech from $90.00 to $100.00 and gave the stock a “positive” rating in a report on Monday, March 9th. Oppenheimer upped their target price on Semtech from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Robert W. Baird upped their target price on Semtech from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Stifel Nicolaus upped their target price on Semtech from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Finally, TD Cowen reiterated a “buy” rating on shares of Semtech in a report on Tuesday, February 24th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.71.

Hedge Funds Weigh In On Semtech

Institutional investors have recently bought and sold shares of the business. New York State Common Retirement Fund increased its position in Semtech by 55.7% during the third quarter. New York State Common Retirement Fund now owns 277,661 shares of the semiconductor company’s stock worth $19,839,000 after buying an additional 99,335 shares during the last quarter. Nordea Investment Management AB increased its position in Semtech by 24.4% during the third quarter. Nordea Investment Management AB now owns 117,669 shares of the semiconductor company’s stock worth $7,992,000 after buying an additional 23,086 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in Semtech during the third quarter worth approximately $4,318,000. Allspring Global Investments Holdings LLC acquired a new position in Semtech during the third quarter worth approximately $9,160,000. Finally, Hodges Capital Management Inc. acquired a new position in Semtech during the third quarter worth approximately $4,624,000.

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.