Semtech Co. (NASDAQ:SMTC) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,670,000 shares, a decline of 9.2% from the September 30th total of 1,840,000 shares. Approximately 2.6% of the company’s stock are sold short. Based on an average daily volume of 473,700 shares, the short-interest ratio is currently 3.5 days.

SMTC has been the topic of several research analyst reports. BidaskClub lowered shares of Semtech from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Jaffray Companies lifted their price target on shares of Semtech from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. ValuEngine lowered shares of Semtech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 5th. B. Riley cut their price target on shares of Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Craig Hallum cut their price target on shares of Semtech from $9.00 to $6.00 in a research note on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.17.

NASDAQ SMTC traded down $0.50 during trading on Friday, reaching $52.40. The company’s stock had a trading volume of 248,000 shares, compared to its average volume of 269,305. The business’s fifty day moving average price is $50.50 and its 200-day moving average price is $47.82. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.42 and a current ratio of 4.10. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 39.40, a P/E/G ratio of 4.17 and a beta of 1.93. Semtech has a twelve month low of $39.54 and a twelve month high of $57.96.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 28th. The semiconductor company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The business had revenue of $137.10 million during the quarter, compared to analyst estimates of $134.85 million. Semtech had a net margin of 7.34% and a return on equity of 12.91%. The company’s revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, sell-side analysts forecast that Semtech will post 1.06 EPS for the current fiscal year.

In related news, VP Mark C. Costello sold 8,951 shares of Semtech stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.80, for a total transaction of $418,906.80. Following the sale, the vice president now directly owns 3,090 shares in the company, valued at approximately $144,612. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alisair Fulton sold 709 shares of Semtech stock in a transaction on Monday, October 7th. The stock was sold at an average price of $49.38, for a total transaction of $35,010.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,717 shares of company stock valued at $1,262,791. Corporate insiders own 1.96% of the company’s stock.

Large investors have recently bought and sold shares of the company. Strs Ohio increased its position in Semtech by 4.1% during the second quarter. Strs Ohio now owns 7,600 shares of the semiconductor company’s stock worth $365,000 after purchasing an additional 300 shares during the last quarter. Creative Planning increased its position in Semtech by 5.8% during the second quarter. Creative Planning now owns 5,693 shares of the semiconductor company’s stock worth $274,000 after purchasing an additional 310 shares during the last quarter. Point72 Hong Kong Ltd increased its position in Semtech by 28.1% during the second quarter. Point72 Hong Kong Ltd now owns 1,450 shares of the semiconductor company’s stock worth $70,000 after purchasing an additional 318 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Semtech by 8.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,346 shares of the semiconductor company’s stock worth $211,000 after purchasing an additional 347 shares during the last quarter. Finally, Avitas Wealth Management LLC increased its position in Semtech by 1.3% during the third quarter. Avitas Wealth Management LLC now owns 37,151 shares of the semiconductor company’s stock worth $1,806,000 after purchasing an additional 476 shares during the last quarter. 96.41% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Gross Domestic Product (GDP)

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