Semtech Co. (NASDAQ:SMTC) CFO Sells $69,891.70 in Stock

Semtech Co. (NASDAQ:SMTC) CFO Emeka Chukwu sold 890 shares of the business’s stock in a transaction dated Friday, October 8th. The stock was sold at an average price of $78.53, for a total transaction of $69,891.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Semtech stock opened at $74.76 on Thursday. The stock has a 50 day moving average of $72.97 and a 200 day moving average of $68.03. Semtech Co. has a 12 month low of $52.23 and a 12 month high of $83.94. The firm has a market cap of $4.81 billion, a PE ratio of 54.17, a PEG ratio of 3.22 and a beta of 1.65. The company has a current ratio of 4.17, a quick ratio of 3.28 and a debt-to-equity ratio of 0.25.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, August 31st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The company had revenue of $185.00 million for the quarter, compared to analysts’ expectations of $182.89 million. Semtech had a return on equity of 14.21% and a net margin of 13.44%. Semtech’s revenue was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 earnings per share. As a group, equities research analysts forecast that Semtech Co. will post 1.84 earnings per share for the current fiscal year.

A number of research analysts recently commented on the stock. Piper Sandler reaffirmed a “buy” rating and set a $84.00 price objective on shares of Semtech in a research report on Tuesday, June 29th. B. Riley restated a “buy” rating and issued a $97.00 price objective (up previously from $95.00) on shares of Semtech in a research note on Thursday, September 2nd. Susquehanna Bancshares reaffirmed a “hold” rating and issued a $71.00 target price on shares of Semtech in a report on Monday, August 30th. Susquehanna reissued a “hold” rating and set a $71.00 price objective on shares of Semtech in a report on Monday, August 30th. Finally, Needham & Company LLC increased their price target on shares of Semtech from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, September 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $79.55.

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in Semtech by 19.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,039,937 shares of the semiconductor company’s stock worth $209,148,000 after acquiring an additional 502,872 shares during the last quarter. State Street Corp raised its stake in Semtech by 1.5% in the 2nd quarter. State Street Corp now owns 2,350,374 shares of the semiconductor company’s stock worth $161,706,000 after acquiring an additional 34,775 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Semtech by 48.6% during the 1st quarter. Franklin Resources Inc. now owns 2,014,916 shares of the semiconductor company’s stock valued at $139,029,000 after buying an additional 658,570 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Semtech by 10.7% during the 2nd quarter. Alliancebernstein L.P. now owns 2,009,452 shares of the semiconductor company’s stock valued at $138,250,000 after buying an additional 194,796 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Semtech by 14.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,511,658 shares of the semiconductor company’s stock valued at $104,305,000 after buying an additional 186,797 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Semtech Company Profile

Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.

Featured Story: Why is the conference call important?

Insider Buying and Selling by Quarter for Semtech (NASDAQ:SMTC)

Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.