Martin Burvill Sells 2,500 Shares of Semtech (NASDAQ:SMTC) Stock

Key Points

• Director Martin Burvill sold 2,500 Semtech shares on April 9 at an average price of $88.98 for proceeds of $222,450, trimming his stake by 36.18% to 4,409 shares (SEC filing).
• Semtech stock jumped about 7.8% to $91.83 on Monday with above-average volume; the company has a market cap of $8.54 billion, a negative P/E (‑208.7) and a 12‑month range of $24.05–$96.46.
• Semtech beat quarterly expectations with $0.44 EPS vs. $0.43 expected and revenue of $274.4M (up 9.3% YoY), and analysts are predominantly positive (14 Buys, average target ~$93.14), with several recent price-target increases.

Semtech Corporation (NASDAQ:SMTC - Get Free Report) Director Martin Burvill sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $88.98, for a total transaction of $222,450.00. Following the sale, the director owned 4,409 shares of the company's stock, valued at approximately $392,312.82. This represents a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Semtech Stock Up 7.8%

Shares of NASDAQ SMTC traded up $6.61 on Monday, hitting $91.83. The company had a trading volume of 2,374,423 shares, compared to its average volume of 1,934,533. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.89. Semtech Corporation has a 12-month low of $24.05 and a 12-month high of $96.46. The firm has a market capitalization of $8.54 billion, a P/E ratio of -208.70 and a beta of 2.06. The business has a 50 day moving average of $84.32 and a two-hundred day moving average of $76.58.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its earnings results on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $274.40 million for the quarter, compared to the consensus estimate of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The company's revenue was up 9.3% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. As a group, equities research analysts forecast that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Semtech

Institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its holdings in Semtech by 55.7% in the third quarter. New York State Common Retirement Fund now owns 277,661 shares of the semiconductor company's stock worth $19,839,000 after acquiring an additional 99,335 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Semtech by 24.4% during the third quarter. Nordea Investment Management AB now owns 117,669 shares of the semiconductor company's stock valued at $7,992,000 after purchasing an additional 23,086 shares during the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Semtech during the 3rd quarter worth approximately $4,318,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Semtech in the 3rd quarter worth approximately $9,160,000. Finally, Hodges Capital Management Inc. bought a new stake in shares of Semtech in the 3rd quarter worth approximately $4,624,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SMTC. Robert W. Baird raised their target price on Semtech from $88.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. Weiss Ratings downgraded Semtech from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, March 24th. Oppenheimer raised their price objective on Semtech from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. Stifel Nicolaus lifted their price objective on Semtech from $90.00 to $98.00 and gave the stock a "buy" rating in a report on Tuesday, March 17th. Finally, Susquehanna increased their target price on Semtech from $90.00 to $100.00 and gave the company a "positive" rating in a research note on Monday, March 9th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $93.14.

Semtech Company Profile

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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