Semtech Corp. (SMTC) Insider Sells $39,600.00 in Stock
Semtech Corp. (NASDAQ:SMTC) insider Mohan Maheswaran sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $26.40, for a total transaction of $39,600.00. Following the sale, the insider now owns 183,367 shares of the company’s stock, valued at $4,840,888.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Mohan Maheswaran also recently made the following trade(s):
- On Monday, August 15th, Mohan Maheswaran sold 1,500 shares of Semtech Corp. stock. The stock was sold at an average price of $26.00, for a total transaction of $39,000.00.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 26.98 on Wednesday. The firm has a market capitalization of $1.77 billion, a PE ratio of 64.09 and a beta of 1.26. Semtech Corp. has a 12-month low of $14.04 and a 12-month high of $28.17. The company has a 50-day moving average of $26.17 and a 200 day moving average of $23.65.
Semtech Corp. (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, August 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business earned $135.90 million during the quarter. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. Semtech Corp.’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. On average, analysts predict that Semtech Corp. will post $1.34 EPS for the current year.
Several brokerages have recently weighed in on SMTC. B. Riley restated a “buy” rating and issued a $35.00 target price on shares of Semtech Corp. in a research note on Sunday, September 4th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Semtech Corp. in a research note on Monday, September 5th. Drexel Hamilton upped their target price on shares of Semtech Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, September 1st. Royal Bank Of Canada upped their target price on shares of Semtech Corp. from $22.00 to $25.00 and gave the company a “sector perform” rating in a research note on Thursday, June 2nd. Finally, Zacks Investment Research upgraded shares of Semtech Corp. from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, June 8th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.00.
Several hedge funds have recently bought and sold shares of SMTC. Norges Bank acquired a new position in shares of Semtech Corp. during the fourth quarter valued at $14,404,000. Frontier Capital Management Co. LLC raised its position in shares of Semtech Corp. by 36.1% in the second quarter. Frontier Capital Management Co. LLC now owns 2,442,524 shares of the company’s stock valued at $58,279,000 after buying an additional 648,271 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Semtech Corp. by 841.3% in the first quarter. UBS Asset Management Americas Inc. now owns 420,048 shares of the company’s stock valued at $9,236,000 after buying an additional 375,422 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Semtech Corp. during the second quarter valued at $5,778,000. Finally, Vanguard Group Inc. raised its position in shares of Semtech Corp. by 4.4% in the second quarter. Vanguard Group Inc. now owns 5,235,323 shares of the company’s stock valued at $124,915,000 after buying an additional 221,743 shares during the last quarter. 95.43% of the stock is owned by institutional investors and hedge funds.
About Semtech Corp.
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
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