Semtech Co. (NASDAQ:SMTC) VP Mark C. Costello sold 1,063 shares of Semtech stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $58.27, for a total value of $61,941.01. Following the sale, the vice president now directly owns 6,813 shares of the company’s stock, valued at $396,993.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of NASDAQ:SMTC traded down $0.95 on Friday, reaching $56.75. The company had a trading volume of 439,200 shares, compared to its average volume of 573,332. Semtech Co. has a 52-week low of $31.30 and a 52-week high of $60.05. The company has a market capitalization of $3.88 billion, a PE ratio of 40.57, a P/E/G ratio of 7.52 and a beta of 1.50. The company has a current ratio of 4.13, a quick ratio of 3.51 and a debt-to-equity ratio of 0.29.
Semtech (NASDAQ:SMTC) last announced its earnings results on Wednesday, August 29th. The semiconductor company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Semtech had a return on equity of 12.66% and a net margin of 8.48%. The firm had revenue of $163.20 million for the quarter, compared to the consensus estimate of $161.21 million. During the same period in the previous year, the business earned $0.48 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. research analysts predict that Semtech Co. will post 1.56 EPS for the current year.
A number of hedge funds have recently made changes to their positions in SMTC. Summit Trail Advisors LLC grew its stake in Semtech by 4,098.9% during the 1st quarter. Summit Trail Advisors LLC now owns 1,232,755 shares of the semiconductor company’s stock worth $1,233,000 after buying an additional 1,203,396 shares during the last quarter. Frontier Capital Management Co. LLC grew its stake in Semtech by 18.4% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 4,407,687 shares of the semiconductor company’s stock worth $207,382,000 after buying an additional 684,861 shares during the last quarter. BlackRock Inc. grew its stake in Semtech by 6.4% during the 2nd quarter. BlackRock Inc. now owns 9,134,382 shares of the semiconductor company’s stock worth $429,775,000 after buying an additional 549,595 shares during the last quarter. Columbus Circle Investors purchased a new position in Semtech during the 2nd quarter worth $24,791,000. Finally, Voya Investment Management LLC grew its stake in Semtech by 1,173.5% during the 2nd quarter. Voya Investment Management LLC now owns 361,573 shares of the semiconductor company’s stock worth $17,012,000 after buying an additional 333,180 shares during the last quarter. Hedge funds and other institutional investors own 96.61% of the company’s stock.
A number of research analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Semtech from $60.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, August 30th. B. Riley lifted their price target on Semtech from $57.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, June 21st. BidaskClub downgraded Semtech from a “buy” rating to a “hold” rating in a report on Saturday, June 30th. Needham & Company LLC downgraded Semtech from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a report on Tuesday. Finally, BWS Financial lifted their price target on Semtech from $40.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, June 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $57.70.
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.
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