Semtech Co. (SMTC) SVP Asaf Silberstein Sells 21,740 Shares

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Semtech Co. (NASDAQ:SMTC) SVP Asaf Silberstein sold 21,740 shares of the business’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $50.10, for a total transaction of $1,089,174.00. Following the sale, the senior vice president now directly owns 45,616 shares of the company’s stock, valued at $2,285,361.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Asaf Silberstein also recently made the following trade(s):

  • On Thursday, April 5th, Asaf Silberstein sold 1,500 shares of Semtech stock. The shares were sold at an average price of $40.50, for a total transaction of $60,750.00.

NASDAQ:SMTC opened at $47.05 on Friday. The stock has a market capitalization of $3.11 billion, a P/E ratio of 39.54, a price-to-earnings-growth ratio of 8.42 and a beta of 1.23. Semtech Co. has a 1-year low of $31.30 and a 1-year high of $51.90. The company has a quick ratio of 3.51, a current ratio of 4.09 and a debt-to-equity ratio of 0.30.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, May 30th. The semiconductor company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The business had revenue of $151.90 million during the quarter, compared to analyst estimates of $150.33 million. Semtech had a net margin of 6.44% and a return on equity of 12.05%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. analysts predict that Semtech Co. will post 1.12 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in SMTC. Schwab Charles Investment Management Inc. lifted its position in shares of Semtech by 9.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 360,625 shares of the semiconductor company’s stock valued at $12,334,000 after buying an additional 31,317 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Semtech by 334.6% during the fourth quarter. Teacher Retirement System of Texas now owns 23,557 shares of the semiconductor company’s stock valued at $806,000 after buying an additional 18,137 shares during the last quarter. Swiss National Bank lifted its position in shares of Semtech by 5.3% during the fourth quarter. Swiss National Bank now owns 114,200 shares of the semiconductor company’s stock valued at $3,906,000 after buying an additional 5,700 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Semtech during the fourth quarter valued at about $610,000. Finally, First Trust Advisors LP increased its holdings in shares of Semtech by 28.2% during the fourth quarter. First Trust Advisors LP now owns 58,739 shares of the semiconductor company’s stock valued at $2,009,000 after acquiring an additional 12,917 shares in the last quarter. 96.37% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on SMTC. Loop Capital began coverage on shares of Semtech in a research note on Thursday, June 21st. They set a “buy” rating and a $60.00 target price for the company. Needham & Company LLC boosted their target price on shares of Semtech from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, June 21st. B. Riley upped their price objective on shares of Semtech from $57.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, June 21st. BWS Financial upped their price objective on shares of Semtech from $40.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, June 21st. Finally, Oppenheimer upped their price objective on shares of Semtech from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, June 21st. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $53.44.

Semtech Company Profile

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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