Semtech Co. (NASDAQ:SMTC) Director Sylvia Summers sold 6,487 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.31, for a total transaction of $300,412.97. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $926,200. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of NASDAQ:SMTC opened at $48.29 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.42 and a debt-to-equity ratio of 0.27. Semtech Co. has a 12 month low of $39.54 and a 12 month high of $60.55. The company has a 50-day moving average price of $46.26 and a 200 day moving average price of $49.03. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 3.55 and a beta of 1.87.
Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, August 28th. The semiconductor company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The company had revenue of $137.10 million during the quarter, compared to analysts’ expectations of $134.85 million. Semtech had a net margin of 7.34% and a return on equity of 12.91%. The firm’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. As a group, equities analysts forecast that Semtech Co. will post 1.08 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its stake in Semtech by 3,725.0% during the first quarter. Cornerstone Advisors Inc. now owns 612 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 596 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in Semtech by 28.1% during the second quarter. Point72 Hong Kong Ltd now owns 1,450 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 318 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Semtech during the second quarter valued at $86,000. Marshall Wace LLP bought a new stake in Semtech during the second quarter valued at $203,000. Finally, Wesbanco Bank Inc. bought a new stake in Semtech during the first quarter valued at $219,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.
SMTC has been the subject of several research reports. Wells Fargo & Co reissued an “outperformer” rating and set a $60.00 price objective (down previously from $65.00) on shares of Semtech in a report on Thursday, August 29th. Cowen dropped their price objective on shares of Semtech from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Monday. BidaskClub raised shares of Semtech from a “strong sell” rating to a “sell” rating in a report on Tuesday. Robert W. Baird set a $45.00 price objective on shares of Semtech and gave the company a “buy” rating in a report on Monday, August 26th. Finally, B. Riley dropped their price objective on shares of Semtech from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $54.45.
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, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.
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