Insider Selling: Semtech Corporation (NASDAQ:SMTC) COO Sells 2,000 Shares of Stock

Semtech Corporation (NASDAQ:SMTC - Get Free Report) COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $42.98, for a total transaction of $85,960.00. Following the completion of the sale, the chief operating officer now owns 105,996 shares in the company, valued at approximately $4,555,708.08. This trade represents a 1.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Semtech Stock Down 1.6%

NASDAQ SMTC traded down $0.71 during mid-day trading on Friday, reaching $44.91. The stock had a trading volume of 3,628,099 shares, compared to its average volume of 2,131,729. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $79.52. The stock has a market cap of $3.89 billion, a PE ratio of -21.80 and a beta of 1.88. The company has a fifty day moving average price of $37.32 and a 200 day moving average price of $44.45. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.53 and a quick ratio of 1.81.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.10. Semtech had a negative net margin of 12.52% and a positive return on equity of 19.66%. The company had revenue of $251.10 million during the quarter, compared to analyst estimates of $249.79 million. During the same period in the previous year, the business earned $0.06 EPS. The firm's revenue for the quarter was up 21.8% on a year-over-year basis. On average, research analysts expect that Semtech Corporation will post -0.02 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Morgan Stanley set a $43.00 price target on shares of Semtech in a report on Wednesday, May 28th. Benchmark reaffirmed a "buy" rating and issued a $68.00 target price on shares of Semtech in a research report on Wednesday, May 28th. Needham & Company LLC reissued a "buy" rating and set a $54.00 price target on shares of Semtech in a research report on Wednesday, May 28th. Stifel Nicolaus boosted their price objective on shares of Semtech from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Craig Hallum decreased their target price on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $58.58.

Institutional Investors Weigh In On Semtech

Hedge funds have recently added to or reduced their stakes in the stock. Essential Planning LLC. purchased a new stake in Semtech during the 4th quarter valued at $1,069,000. Boothbay Fund Management LLC raised its stake in Semtech by 48.9% during the 4th quarter. Boothbay Fund Management LLC now owns 40,663 shares of the semiconductor company's stock valued at $2,515,000 after buying an additional 13,348 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in Semtech by 13.2% during the 4th quarter. Mutual of America Capital Management LLC now owns 12,778 shares of the semiconductor company's stock valued at $790,000 after buying an additional 1,493 shares during the last quarter. Fortress Investment Group LLC purchased a new stake in Semtech during the 4th quarter valued at $1,225,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Semtech by 471.3% in the 4th quarter. BNP Paribas Financial Markets now owns 204,159 shares of the semiconductor company's stock worth $12,627,000 after purchasing an additional 168,426 shares in the last quarter.

Semtech Company Profile

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.