Semtech Co. (NASDAQ:SMTC) EVP John Michael Wilson sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $59.00, for a total transaction of $885,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Semtech stock opened at $56.75 on Friday. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 40.54, a PEG ratio of 7.52 and a beta of 1.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.51 and a current ratio of 4.13. Semtech Co. has a 12-month low of $31.30 and a 12-month high of $60.05.
Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, August 29th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $163.20 million for the quarter, compared to the consensus estimate of $161.21 million. Semtech had a net margin of 8.48% and a return on equity of 12.66%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. analysts predict that Semtech Co. will post 1.56 EPS for the current fiscal year.
Several equities analysts recently commented on SMTC shares. Stifel Nicolaus started coverage on shares of Semtech in a research note on Friday, July 20th. They issued a “buy” rating and a $60.00 price target on the stock. Piper Jaffray Companies restated an “overweight” rating and issued a $57.00 price target on shares of Semtech in a research note on Monday, August 27th. BidaskClub downgraded shares of Semtech from a “hold” rating to a “sell” rating in a research note on Thursday, August 30th. Loop Capital started coverage on shares of Semtech in a research note on Thursday, June 21st. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Needham & Company LLC downgraded shares of Semtech from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $57.70.
A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in Semtech by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 1,756,434 shares of the semiconductor company’s stock worth $82,640,000 after buying an additional 118,194 shares in the last quarter. Verition Fund Management LLC grew its stake in Semtech by 166.8% during the second quarter. Verition Fund Management LLC now owns 14,680 shares of the semiconductor company’s stock worth $691,000 after buying an additional 9,178 shares in the last quarter. Castleark Management LLC acquired a new stake in Semtech during the second quarter worth about $13,230,000. Cubist Systematic Strategies LLC grew its stake in Semtech by 137.8% during the second quarter. Cubist Systematic Strategies LLC now owns 27,929 shares of the semiconductor company’s stock worth $1,314,000 after buying an additional 16,182 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in Semtech by 1,173.5% during the second 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 in the last quarter. Hedge funds and other institutional investors own 96.61% of the company’s stock.
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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