Key Points
- Insider sale: Semtech EVP Jason Elliot Green sold 7,500 shares on April 1 at an average price of $81.73 for about $612,975, reducing his stake by 45.98% to 8,811 shares (SEC Form 4 filed).
- Company performance and outlook: Semtech beat quarterly EPS estimates ($0.44 vs. $0.43) with revenue up 9.3% YoY to $274.4M, the stock is trading near $82.65 with a $7.68B market cap, and analysts have a consensus "Moderate Buy" with an average target of $93.14.
Semtech Corporation (NASDAQ:SMTC - Get Free Report) CFO Mark Lin sold 974 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $78.42, for a total value of $76,381.08. Following the transaction, the chief financial officer directly owned 33,343 shares in the company, valued at $2,614,758.06. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Lin also recently made the following trade(s):
- On Tuesday, March 24th, Mark Lin sold 9,186 shares of Semtech stock. The shares were sold at an average price of $75.05, for a total transaction of $689,409.30.
- On Wednesday, March 11th, Mark Lin sold 3,908 shares of Semtech stock. The shares were sold at an average price of $87.24, for a total transaction of $340,933.92.
- On Tuesday, March 10th, Mark Lin sold 2,734 shares of Semtech stock. The stock was sold at an average price of $85.27, for a total transaction of $233,128.18.
- On Friday, March 6th, Mark Lin sold 6,582 shares of Semtech stock. The shares were sold at an average price of $83.75, for a total transaction of $551,242.50.
- On Monday, January 5th, Mark Lin sold 1,333 shares of Semtech stock. The shares were sold at an average price of $76.20, for a total transaction of $101,574.60.
Semtech Stock Performance
Semtech stock opened at $82.65 on Friday. Semtech Corporation has a 12-month low of $24.05 and a 12-month high of $96.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.66. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of -187.84 and a beta of 2.06. The firm's fifty day moving average price is $83.83 and its 200 day moving average price is $75.40.
Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The company had revenue of $274.40 million during the quarter, compared to analysts' expectations of $273.14 million. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. On average, research analysts forecast that Semtech Corporation will post -0.02 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Evergreen Capital Management LLC increased its holdings in shares of Semtech by 2.3% in the 4th quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company's stock valued at $438,000 after acquiring an additional 136 shares during the last quarter. Stephens Inc. AR lifted its stake in Semtech by 3.3% during the fourth quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company's stock worth $325,000 after purchasing an additional 142 shares during the last quarter. Journey Strategic Wealth LLC lifted its stake in Semtech by 3.2% during the third quarter. Journey Strategic Wealth LLC now owns 5,074 shares of the semiconductor company's stock worth $363,000 after purchasing an additional 159 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Semtech by 0.8% in the fourth quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company's stock worth $1,422,000 after purchasing an additional 162 shares during the period. Finally, AlphaQuest LLC boosted its holdings in Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 173 shares during the period.
Wall Street Analysts Forecast Growth
SMTC has been the topic of several analyst reports. Craig Hallum lifted their price objective on Semtech from $80.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, March 17th. Robert W. Baird increased their target price on Semtech from $88.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. Susquehanna raised their price target on shares of Semtech from $90.00 to $100.00 and gave the stock a "positive" rating in a research report on Monday, March 9th. Stifel Nicolaus upped their price target on shares of Semtech from $90.00 to $98.00 and gave the company a "buy" rating in a report on Tuesday, March 17th. Finally, Piper Sandler reiterated an "overweight" rating and set a $95.00 price objective (up from $70.00) on shares of Semtech in a research note on Thursday, December 11th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.14.
Read Our Latest Report on Semtech
Semtech Company Profile
(
Get Free Report)
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.
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