Semtech Co. (NASDAQ:SMTC) EVP James Jungsup Kim sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $43.81, for a total value of $1,314,300.00. Following the sale, the executive vice president now owns 81,854 shares of the company’s stock, valued at $3,586,023.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Semtech stock opened at $39.83 on Monday. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 2.87 and a beta of 1.65. Semtech Co. has a 12 month low of $39.54 and a 12 month high of $60.55.

Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, May 29th. The semiconductor company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.18 by $0.16. The firm had revenue of $131.40 million during the quarter, compared to the consensus estimate of $130.40 million. Semtech had a return on equity of 14.06% and a net margin of 10.18%. The business’s quarterly revenue was down 13.5% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. On average, research analysts anticipate that Semtech Co. will post 1.19 EPS for the current year.

Several brokerages recently weighed in on SMTC. ValuEngine downgraded Semtech from a “buy” rating to a “hold” rating in a research report on Thursday. Oppenheimer dropped their price objective on Semtech from $60.00 to $52.00 and set an “outperform” rating for the company in a research report on Thursday. B. Riley dropped their price objective on Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday. BidaskClub downgraded Semtech from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 29th. Finally, Cowen began coverage on Semtech in a research report on Tuesday, May 21st. They set an “outperform” rating and a $56.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Semtech currently has a consensus rating of “Buy” and an average target price of $56.54.

Institutional investors have recently bought and sold shares of the business. Cullen Frost Bankers Inc. bought a new position in Semtech in the first quarter valued at about $27,000. Pearl River Capital LLC bought a new position in Semtech in the fourth quarter valued at about $25,000. Cutler Group LP bought a new position in Semtech in the fourth quarter valued at about $27,000. Enlightenment Research LLC bought a new position in Semtech in the fourth quarter valued at about $28,000. Finally, Cornerstone Advisors Inc. raised its position in Semtech by 3,725.0% in the first quarter. Cornerstone Advisors Inc. now owns 612 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 596 shares during the last quarter. Hedge funds and other institutional investors own 96.49% of the company’s stock.

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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, 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.

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