Key Points
- Semtech director Martin Burvill sold 2,500 shares on April 9 at an average price of $88.98 for $222,450, cutting his ownership by 36.18% to 4,409 shares (valued at about $392,313), according to an SEC filing.
- Company fundamentals and analyst sentiment are positive: Semtech beat Q results with $0.44 EPS vs $0.43 estimate and $274.4M revenue (+9.3% YoY), the stock is rated a "Moderate Buy" by consensus with an average price target of ~$93.14 and several firms raising targets (up to $115).
Semtech Corporation (NASDAQ:SMTC - Get Free Report) Director Martin Burvill sold 2,500 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $88.98, for a total transaction of $222,450.00. Following the completion of the transaction, the director directly owned 4,409 shares in the company, valued at $392,312.82. This trade represents a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Semtech Trading Up 7.8%
NASDAQ SMTC opened at $91.83 on Tuesday. 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 firm's fifty day moving average price is $84.40 and its 200 day moving average price is $76.80. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of -208.70 and a beta of 2.06. Semtech Corporation has a 12 month low of $24.05 and a 12 month high of $96.46.
Semtech (NASDAQ:SMTC - Get Free Report) last posted its earnings results on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The firm had revenue of $274.40 million for the quarter, compared to the consensus estimate of $273.14 million. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The company's revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. On average, sell-side analysts expect that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.
Institutional Trading of Semtech
A number of large investors have recently bought and sold shares of the business. Evergreen Capital Management LLC boosted its stake in Semtech by 2.3% during the 4th quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company's stock worth $438,000 after purchasing an additional 136 shares during the period. Stephens Inc. AR boosted its stake in Semtech by 3.3% during the 4th 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 period. Journey Strategic Wealth LLC lifted its stake in shares of Semtech by 3.2% in the 3rd quarter. Journey Strategic Wealth LLC now owns 5,074 shares of the semiconductor company's stock worth $363,000 after acquiring an additional 159 shares during the period. Captrust Financial Advisors lifted its stake in shares of Semtech by 0.8% in the 4th quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company's stock worth $1,422,000 after acquiring an additional 162 shares during the period. Finally, AlphaQuest LLC lifted its stake in shares of Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 173 shares during the period.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Semtech from $90.00 to $98.00 and gave the company a "buy" rating in a research report on Tuesday, March 17th. Weiss Ratings cut shares of Semtech from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Tuesday, March 24th. Robert W. Baird increased their price target on shares of Semtech from $88.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. Susquehanna increased their price target on shares of Semtech from $90.00 to $100.00 and gave the stock a "positive" rating in a research note on Monday, March 9th. Finally, Benchmark reiterated a "buy" rating and set a $115.00 price target on shares of Semtech in a research note on Tuesday, March 17th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Semtech presently has a consensus rating of "Moderate Buy" and an average price target of $93.14.
Read Our Latest Analysis 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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