Semtech Co. (NASDAQ:SMTC) CFO Emeka Chukwu sold 6,000 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $53.41, for a total value of $320,460.00.
Shares of SMTC stock traded down $0.43 during midday trading on Friday, reaching $53.70. 398,800 shares of the stock were exchanged, compared to its average volume of 533,200. Semtech Co. has a 1 year low of $26.03 and a 1 year high of $58.23. The firm has a market cap of $3.52 billion, a PE ratio of 101.32, a price-to-earnings-growth ratio of 3.76 and a beta of 1.67. The company's 50 day moving average is $51.67 and its two-hundred day moving average is $46.81. The company has a current ratio of 4.72, a quick ratio of 3.88 and a debt-to-equity ratio of 0.29.
Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.32 by $0.03. The company had revenue of $132.70 million for the quarter, compared to analyst estimates of $129.18 million. Semtech had a return on equity of 9.48% and a net margin of 6.47%. The firm's revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. As a group, equities analysts expect that Semtech Co. will post 1.15 EPS for the current fiscal year.
Several analysts have weighed in on the company. Cowen boosted their price objective on Semtech from $50.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, May 28th. Susquehanna Bancshares upped their price target on shares of Semtech from $40.00 to $50.00 and gave the company a "hold" rating in a report on Thursday, May 28th. BidaskClub raised shares of Semtech from a "strong sell" rating to a "sell" rating in a report on Tuesday, March 24th. Wells Fargo & Co upped their price objective on shares of Semtech from $50.00 to $57.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Finally, Cfra raised their target price on Semtech from $40.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. Semtech has an average rating of "Buy" and an average price target of $55.13.
Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Schroder Investment Management Group lifted its position in shares of Semtech by 402.6% during the 1st quarter. Schroder Investment Management Group now owns 1,436,597 shares of the semiconductor company's stock valued at $58,441,000 after buying an additional 1,150,774 shares in the last quarter. Norges Bank purchased a new position in shares of Semtech in the fourth quarter worth $47,554,000. Franklin Resources Inc. boosted its position in shares of Semtech by 96.1% during the first quarter. Franklin Resources Inc. now owns 1,132,172 shares of the semiconductor company's stock worth $42,457,000 after acquiring an additional 554,809 shares during the last quarter. Invesco Ltd. grew its stake in Semtech by 7.4% during the first quarter. Invesco Ltd. now owns 4,723,977 shares of the semiconductor company's stock valued at $177,149,000 after acquiring an additional 323,552 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Semtech by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 3,277,803 shares of the semiconductor company's stock valued at $122,918,000 after acquiring an additional 185,721 shares during the last quarter. Hedge funds and other institutional investors own 96.08% of the company's stock.
Semtech Company Profile
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications 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.
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