Semtech Co. (NASDAQ:SMTC) VP Simon A. Brown sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $59.01, for a total transaction of $118,020.00. Following the sale, the vice president now directly owns 17,193 shares of the company’s stock, valued at $1,014,558.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of SMTC stock opened at $56.75 on Friday. Semtech Co. has a 52-week low of $31.30 and a 52-week high of $60.05. The company has a quick ratio of 3.51, a current ratio of 4.13 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 40.54, a PEG ratio of 7.40 and a beta of 1.50.
Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, August 29th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. Semtech had a net margin of 8.48% and a return on equity of 12.66%. The business had revenue of $163.20 million during the quarter, compared to the consensus estimate of $161.21 million. During the same period in the prior year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. equities analysts expect that Semtech Co. will post 1.56 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in SMTC. Summit Trail Advisors LLC grew its position in shares of 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 valued at $1,233,000 after acquiring an additional 1,203,396 shares during the period. Frontier Capital Management Co. LLC grew its position in shares of 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 valued at $207,382,000 after acquiring an additional 684,861 shares during the period. BlackRock Inc. grew its position in shares of Semtech by 6.4% during the 2nd quarter. BlackRock Inc. now owns 9,134,382 shares of the semiconductor company’s stock valued at $429,775,000 after acquiring an additional 549,595 shares during the period. Columbus Circle Investors bought a new position in shares of Semtech during the 2nd quarter valued at approximately $24,791,000. Finally, Voya Investment Management LLC grew its position in shares of Semtech by 1,173.5% during the 2nd quarter. Voya Investment Management LLC now owns 361,573 shares of the semiconductor company’s stock valued at $17,012,000 after acquiring an additional 333,180 shares during the period. 96.61% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on SMTC. Stifel Nicolaus boosted their target price on shares of Semtech from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. B. Riley boosted their target price on shares of Semtech from $57.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, June 21st. BidaskClub downgraded shares of Semtech from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. Needham & Company LLC downgraded shares of Semtech from a “buy” rating to a “hold” rating and set a $42.00 target price for the company. in a research report on Tuesday. Finally, 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 report on Thursday, June 21st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target 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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