Insider Selling: Semtech Co. (SMTC) Insider Sells $1,312,000.00 in Stock
Semtech Co. (NASDAQ:SMTC) insider Mohan Maheswaran sold 25,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $52.48, for a total transaction of $1,312,000.00. Following the completion of the sale, the insider now owns 241,714 shares in the company, valued at $12,685,150.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of SMTC opened at $50.41 on Thursday. The company has a market cap of $3.36 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 3.44 and a beta of 1.67. Semtech Co. has a twelve month low of $37.60 and a twelve month high of $60.55. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.74 and a quick ratio of 3.25.
Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, March 13th. The semiconductor company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $160.00 million during the quarter, compared to analysts’ expectations of $158.48 million. Semtech had a net margin of 10.05% and a return on equity of 13.94%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. As a group, sell-side analysts expect that Semtech Co. will post 1.22 EPS for the current fiscal year.
SMTC has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Semtech from a “sell” rating to a “hold” rating in a research report on Friday, February 1st. B. Riley cut their price target on shares of Semtech from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. ValuEngine upgraded shares of Semtech from a “buy” rating to a “strong-buy” rating in a report on Friday, February 22nd. Royal Bank of Canada restated an “outperform” rating and set a $55.00 target price on shares of Semtech in a report on Thursday, November 29th. Finally, BidaskClub upgraded shares of Semtech from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $59.00.
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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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