Semtech Co. (NASDAQ:SMTC) VP Mark C. Costello sold 8,951 shares of Semtech stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.80, for a total value of $418,906.80. Following the completion of the transaction, the vice president now directly owns 3,090 shares of the company’s stock, valued at $144,612. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NASDAQ:SMTC opened at $48.29 on Friday. The company has a quick ratio of 3.42, a current ratio of 4.10 and a debt-to-equity ratio of 0.27. The business’s 50-day simple moving average is $46.26 and its two-hundred day simple moving average is $49.03. The stock has a market cap of $3.06 billion, a PE ratio of 36.31, a P/E/G ratio of 3.55 and a beta of 1.87. Semtech Co. has a 52 week low of $39.54 and a 52 week high of $60.55.
Semtech (NASDAQ:SMTC) last announced its earnings results on Wednesday, August 28th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. Semtech had a return on equity of 12.91% and a net margin of 7.34%. The business had revenue of $137.10 million during the quarter, compared to analyst estimates of $134.85 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. Sell-side analysts anticipate that Semtech Co. will post 1.08 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund boosted its holdings in Semtech by 29.8% in the first quarter. New York State Common Retirement Fund now owns 396,751 shares of the semiconductor company’s stock valued at $20,199,000 after purchasing an additional 91,041 shares during the last quarter. Cornerstone Advisors Inc. grew its stake in shares of Semtech by 3,725.0% in the 1st quarter. Cornerstone Advisors Inc. now owns 612 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 596 shares during the period. Securian Asset Management Inc purchased a new position in shares of Semtech during the 2nd quarter worth approximately $384,000. Renaissance Technologies LLC boosted its position in Semtech by 2.6% in the 2nd quarter. Renaissance Technologies LLC now owns 968,500 shares of the semiconductor company’s stock valued at $46,536,000 after buying an additional 24,187 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in Semtech by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,487 shares of the semiconductor company’s stock valued at $1,298,000 after buying an additional 460 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.
SMTC has been the subject of several research analyst reports. BidaskClub upgraded Semtech from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price target (down previously from $55.00) on shares of Semtech in a research note on Thursday, August 29th. B. Riley decreased their price objective on Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Robert W. Baird set a $45.00 target price on Semtech and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, ValuEngine upgraded Semtech from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. Semtech currently has an average rating of “Buy” and a consensus price target of $54.45.
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, 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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