Semtech Corporation (NASDAQ:SMTC - Get Free Report) COO Asaf Silberstein sold 2,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value of $85,960.00. Following the completion of the sale, the chief operating officer now directly owns 105,996 shares in the company, valued at approximately $4,555,708.08. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Semtech Stock Performance
Semtech stock traded up $1.13 during mid-day trading on Thursday, reaching $45.62. The company's stock had a trading volume of 1,725,979 shares, compared to its average volume of 2,130,429. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95. Semtech Corporation has a twelve month low of $24.05 and a twelve month high of $79.52. The business has a 50 day moving average price of $36.56 and a 200-day moving average price of $44.99. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -22.15 and a beta of 1.88.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Tuesday, May 27th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. The company had revenue of $251.10 million during the quarter, compared to the consensus estimate of $249.79 million. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. Semtech's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. Sell-side analysts predict that Semtech Corporation will post -0.02 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Whale Rock Capital Management LLC increased its stake in shares of Semtech by 364.2% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company's stock valued at $202,015,000 after purchasing an additional 2,562,602 shares during the period. Wellington Management Group LLP grew its holdings in Semtech by 827.0% in the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock worth $132,550,000 after buying an additional 1,911,890 shares in the last quarter. Vanguard Group Inc. increased its position in Semtech by 13.0% in the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock valued at $713,906,000 after acquiring an additional 1,326,226 shares during the period. Westfield Capital Management Co. LP bought a new stake in Semtech during the 1st quarter valued at $45,489,000. Finally, Ameriprise Financial Inc. raised its stake in Semtech by 15.8% during the 1st quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company's stock valued at $221,737,000 after acquiring an additional 877,422 shares in the last quarter.
Analyst Ratings Changes
Several research firms recently issued reports on SMTC. Craig Hallum decreased their target price on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Morgan Stanley set a $43.00 price objective on shares of Semtech in a research note on Wednesday, May 28th. Stifel Nicolaus upped their price objective on Semtech from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. UBS Group reduced their target price on Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Benchmark reaffirmed a "buy" rating and set a $68.00 price target on shares of Semtech in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $58.58.
Check Out Our Latest Stock Analysis on Semtech
Semtech Company Profile
(
Get Free Report)
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.
Further Reading
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