Key Points
- Director Paul Walsh Jr. sold 500 Semtech shares on April 22 at an average price of $105.93 for $52,965 under a pre-arranged Rule 10b5-1 plan, trimming his stake by 2.06% to 23,779 shares (≈$2.52M).
- Semtech opened at $109.79 with a $10.22B market cap and a 1-year range of $28.91–$113.05; the company reported $0.44 EPS (beating $0.43) and $274.4M revenue (up 9.3% YoY), while analysts have a consensus price target of $95.71 (14 Buys, 1 Hold, 1 Sell).
Semtech Corporation (NASDAQ:SMTC - Get Free Report) Director Paul Walsh, Jr. sold 500 shares of the business's stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $105.93, for a total value of $52,965.00. Following the sale, the director owned 23,779 shares of the company's stock, valued at approximately $2,518,909.47. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Semtech Stock Performance
NASDAQ SMTC opened at $109.79 on Friday. 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 stock's 50 day simple moving average is $87.26 and its 200-day simple moving average is $78.79. The company has a market cap of $10.22 billion, a PE ratio of -249.52 and a beta of 2.06. Semtech Corporation has a 1-year low of $28.91 and a 1-year high of $113.05.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly 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. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The firm had revenue of $274.40 million during the quarter, compared to analysts' expectations of $273.14 million. During the same period in the previous year, the business earned $0.40 earnings per share. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts anticipate that Semtech Corporation will post 1.6 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new stake in shares of Semtech in the first quarter valued at about $33,000. Hantz Financial Services Inc. increased its position in Semtech by 243.2% during the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 360 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Semtech during the third quarter worth about $41,000. AlphaQuest LLC raised its stake in Semtech by 42.5% during 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. Finally, Jones Financial Companies Lllp boosted its holdings in Semtech by 65.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 235 shares during the last quarter.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on SMTC shares. Wall Street Zen lowered shares of Semtech from a "strong-buy" rating to a "buy" rating in a report on Monday, January 26th. B. Riley Financial raised their price target on shares of Semtech from $115.00 to $122.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Robert W. Baird boosted their price target on shares of Semtech from $88.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Susquehanna increased their price objective on shares of Semtech from $90.00 to $100.00 and gave the company a "positive" rating in a report on Monday, March 9th. Finally, Stifel Nicolaus raised their target price on shares of Semtech from $90.00 to $98.00 and gave the stock a "buy" rating in a research note on Tuesday, March 17th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $95.71.
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About Semtech
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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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