Semtech Corp. (SMTC) Insider Sells $39,600.00 in Stock
Semtech Corp. (NASDAQ:SMTC) insider Mohan Maheswaran sold 1,500 shares of the 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 in the company, valued at $4,840,888.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Mohan Maheswaran also recently made the following trade(s):
- On Monday, August 15th, Mohan Maheswaran sold 1,500 shares of Semtech Corp. stock. The shares were 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 price-to-earnings ratio of 64.09 and a beta of 1.26. Semtech Corp. has a 52 week low of $14.04 and a 52 week high of $28.17. The company’s 50-day moving average is $26.17 and its 200 day moving average is $23.65.
Semtech Corp. (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, August 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The company earned $135.90 million during the quarter. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Semtech Corp.’s quarterly revenue was up 8.1% compared to the same quarter last year. Analysts anticipate that Semtech Corp. will post $1.34 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Bayesian Capital Management LP acquired a new stake in Semtech Corp. during the first quarter valued at about $290,000. Renaissance Technologies LLC increased its stake in Semtech Corp. by 363.4% in the first quarter. Renaissance Technologies LLC now owns 228,516 shares of the company’s stock valued at $5,025,000 after buying an additional 179,200 shares in the last quarter. Geode Capital Management LLC increased its stake in Semtech Corp. by 2.2% in the first quarter. Geode Capital Management LLC now owns 443,190 shares of the company’s stock valued at $9,745,000 after buying an additional 9,654 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in 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 in the last quarter. Finally, Palisade Capital Management LLC NJ increased its stake in Semtech Corp. by 18.3% in the first quarter. Palisade Capital Management LLC NJ now owns 780,319 shares of the company’s stock valued at $17,159,000 after buying an additional 120,456 shares in the last quarter. Institutional investors own 95.43% of the company’s stock.
SMTC has been the topic of a number of analyst reports. B. Riley restated a “buy” rating and issued a $31.50 price objective on shares of Semtech Corp. in a report on Thursday, June 2nd. Royal Bank Of Canada raised their price objective on shares of Semtech Corp. from $22.00 to $25.00 and gave the company a “sector perform” rating in a report on Thursday, June 2nd. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Semtech Corp. in a report on Thursday, June 2nd. Drexel Hamilton restated a “buy” rating and issued a $29.00 price objective (up from $26.00) on shares of Semtech Corp. in a report on Friday, June 3rd. Finally, Zacks Investment Research upgraded shares of Semtech Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report 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 company presently has a consensus rating of “Buy” and an average price target of $27.00.
Semtech Corp. Company Profile
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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