Semtech (NASDAQ:SMTC) CEO Sells $180,220.00 in Stock

Key Points

• Semtech CEO Hong Hou sold 2,000 shares on April 10 at an average price of $90.11 for $180,220 under a pre-arranged Rule 10b5-1 plan, trimming his stake to 73,228 shares (a 2.66% decrease) valued at about $6.60 million.
• The stock traded down about 1.9% to $90.12 with a market cap of $8.38 billion and a 52-week range of $24.05 to $96.46.
• Semtech beat quarterly EPS estimates ($0.44 vs. $0.43) with revenue of $274.4 million (up 9.3% YoY), and analysts hold a consensus "Moderate Buy" rating with an average target of $93.50.

Semtech Corporation (NASDAQ:SMTC - Get Free Report) CEO Hong Hou sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $90.11, for a total value of $180,220.00. Following the completion of the sale, the chief executive officer directly owned 73,228 shares of the company's stock, valued at $6,598,575.08. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Trading Down 1.9%

Shares of NASDAQ:SMTC traded down $1.71 during trading on Tuesday, hitting $90.12. The company had a trading volume of 2,384,150 shares, compared to its average volume of 2,950,919. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of -204.82 and a beta of 2.06. Semtech Corporation has a one year low of $24.05 and a one year high of $96.46. The company has a fifty day simple moving average of $84.45 and a two-hundred day simple moving average of $76.99. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.66.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $274.40 million during the quarter, compared to analyst estimates 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 for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS. As a group, equities analysts forecast that Semtech Corporation will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Semtech

A number of institutional investors and hedge funds have recently modified their holdings of SMTC. Evergreen Capital Management LLC increased its holdings in shares of Semtech by 2.3% in the 4th quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company's stock valued at $438,000 after acquiring an additional 136 shares during the period. Stephens Inc. AR increased its holdings in shares of Semtech by 3.3% in the 4th quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company's stock valued at $325,000 after acquiring an additional 142 shares during the period. Journey Strategic Wealth LLC increased its holdings in shares of Semtech by 3.2% in the 3rd quarter. Journey Strategic Wealth LLC now owns 5,074 shares of the semiconductor company's stock valued at $363,000 after acquiring an additional 159 shares during the period. Captrust Financial Advisors increased its holdings in shares of Semtech by 0.8% in the 4th quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company's stock valued at $1,422,000 after acquiring an additional 162 shares during the period. Finally, AlphaQuest LLC increased its holdings in shares of 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 acquiring an additional 173 shares during the period.

Analyst Ratings Changes

Several research firms have recently issued reports on SMTC. Susquehanna raised their price objective on Semtech from $90.00 to $100.00 and gave the company a "positive" rating in a research note on Monday, March 9th. Weiss Ratings lowered Semtech from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Tuesday, March 24th. TD Cowen reissued a "buy" rating on shares of Semtech in a research note on Tuesday, February 24th. Benchmark raised their price target on Semtech from $115.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Wall Street Zen lowered Semtech from a "strong-buy" rating to a "buy" rating in a research note on Monday, January 26th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.