Key Points
- Semtech director Paul Walsh, Jr. sold 500 shares on May 20 at an average price of $138.21, totaling $69,105. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Walsh still owned 23,279 shares, valued at about $3.22 million, representing a 2.1% reduction in his position.
- Semtech recently reported better-than-expected quarterly earnings of $0.44 per share on revenue of $274.4 million, and analysts remain broadly bullish with an average Moderate Buy rating and target price of $113.50.
Semtech Corporation (NASDAQ:SMTC - Get Free Report) Director Paul Walsh, Jr. sold 500 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total value of $69,105.00. Following the transaction, the director owned 23,279 shares in the company, valued at approximately $3,217,390.59. This trade represents a 2.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Semtech Price Performance
Shares of SMTC opened at $156.78 on Friday. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. Semtech Corporation has a 1 year low of $34.59 and a 1 year high of $164.48. The stock has a market cap of $14.60 billion, a P/E ratio of -356.32 and a beta of 2.22. The stock's 50-day moving average price is $100.99 and its two-hundred day moving average price is $86.11.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $273.14 million. During the same quarter last year, the business earned $0.40 earnings per share. The company's revenue was up 9.3% compared to the same quarter last year. On average, equities analysts predict that Semtech Corporation will post 1.6 earnings per share for the current year.
Institutional Investors Weigh In On Semtech
A number of hedge funds and other institutional investors have recently bought and sold shares of SMTC. Banque Cantonale Vaudoise acquired a new stake in Semtech in the 1st quarter valued at approximately $33,000. Hantz Financial Services Inc. raised its position in Semtech by 243.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company's stock valued at $36,000 after buying an additional 360 shares during the last quarter. AlphaQuest LLC raised its position in Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company's stock valued at $41,000 after buying an additional 173 shares during the last quarter. Jones Financial Companies Lllp raised its position 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 buying an additional 235 shares during the last quarter. Finally, Assetmark Inc. raised its position in Semtech by 1,745.5% in the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company's stock valued at $44,000 after buying an additional 576 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the company. Wall Street Zen lowered Semtech from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 26th. UBS Group raised their price target on Semtech from $105.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday. Benchmark raised their price target on Semtech from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. B. Riley Financial reaffirmed a "buy" rating on shares of Semtech in a research report on Tuesday, May 12th. Finally, Robert W. Baird raised their price target on Semtech from $88.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $113.50.
View Our Latest Stock Analysis on SMTC
About Semtech
(
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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