Semtech (NASDAQ:SMTC) Director Sells $52,965.00 in Stock

Key Points

• Director Paul Walsh Jr. sold 500 shares on April 22 at an average price of $105.93 for $52,965 under a pre-arranged Rule 10b5-1 plan, trimming his stake to 23,779 shares (a 2.06% decrease).
• Shares rallied, trading up 4.2% to $109.79 on strong volume and sitting near a 12‑month high of $113.05, with 50- and 200-day moving averages of $86.80 and $78.50 respectively.
• Fundamentals and analyst sentiment: Semtech beat quarterly EPS estimates ($0.44 vs. $0.43) with revenue up 9.3% year-over-year, and analysts have largely raised targets, leaving a consensus rating of "Moderate Buy" with an average price target of $95.71.

Semtech Corporation (NASDAQ:SMTC - Get Free Report) Director Paul Walsh, Jr. sold 500 shares of the business's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $105.93, for a total value of $52,965.00. Following the transaction, the director owned 23,779 shares in the company, valued at approximately $2,518,909.47. This represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Trading Up 4.2%

NASDAQ:SMTC traded up $4.45 during mid-day trading on Friday, reaching $109.79. 2,664,299 shares of the company's stock traded hands, compared to its average volume of 2,018,368. Semtech Corporation has a 12-month low of $28.91 and a 12-month high of $113.05. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of -249.52 and a beta of 2.06. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.66. The company has a 50 day moving average price of $86.80 and a 200-day moving average price of $78.50.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The company had revenue of $274.40 million for the quarter, compared to the consensus estimate of $273.14 million. During the same quarter in the previous year, the business earned $0.40 EPS. Semtech's revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Semtech Corporation will post 1.6 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in shares of Semtech during the 1st quarter worth approximately $33,000. Hantz Financial Services Inc. boosted its position in shares of Semtech by 243.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 360 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Semtech in the 3rd quarter worth approximately $41,000. AlphaQuest LLC boosted its position in shares of Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 173 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Semtech by 65.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 235 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently issued reports on SMTC. Craig Hallum boosted their price target on Semtech from $80.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, March 17th. Robert W. Baird upped their target price on Semtech from $88.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. Susquehanna upped their target price on Semtech from $90.00 to $100.00 and gave the stock a "positive" rating in a report on Monday, March 9th. Morgan Stanley upped their target price on Semtech from $75.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, March 16th. Finally, Needham & Company LLC upped their target price on Semtech from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, March 17th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $95.71.

About Semtech

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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