Semtech (NASDAQ:SMTC) Director Paul Walsh, Jr. Sells 500 Shares of Stock

Semtech Corporation (NASDAQ:SMTC) Director Paul Walsh, Jr. sold 500 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total value of $69,105.00. Following the sale, the director owned 23,279 shares in the company, valued at $3,217,390.59. The trade was a 2.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Price Performance

Shares of SMTC stock opened at $156.78 on Friday. The stock’s fifty day moving average is $100.99 and its 200-day moving average is $86.11. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 2.37. The stock has a market capitalization of $14.60 billion, a PE ratio of -356.32 and a beta of 2.22. Semtech Corporation has a 52 week low of $34.59 and a 52 week high of $164.48.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $274.40 million for the quarter, compared to analysts’ expectations of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Equities research analysts expect that Semtech Corporation will post 1.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Semtech

Several hedge funds have recently added to or reduced their stakes in SMTC. Think Investments LP bought a new position in Semtech in the third quarter valued at about $58,618,000. Ameriprise Financial Inc. boosted its holdings in Semtech by 10.3% during the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after buying an additional 666,456 shares during the last quarter. Atreides Management LP bought a new position in Semtech during the second quarter worth about $29,880,000. Westfield Capital Management Co. LP boosted its holdings in Semtech by 23.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company’s stock worth $241,528,000 after buying an additional 633,113 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Semtech by 323.0% during the first quarter. Assenagon Asset Management S.A. now owns 781,003 shares of the semiconductor company’s stock worth $60,051,000 after buying an additional 596,373 shares during the last quarter.

Analyst Ratings Changes

Several analysts have recently commented on SMTC shares. Needham & Company LLC increased their target price on Semtech from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. B. Riley Financial restated a “buy” rating on shares of Semtech in a report on Tuesday, May 12th. Craig Hallum raised their price target on Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a report on Monday, January 26th. Finally, Weiss Ratings cut Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, March 24th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.50.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.