Insider Selling: James Jungsup Kim Sells 1,500 Shares of Semtech Corp. Stock (SMTC)
Semtech Corp. (NASDAQ:SMTC) SVP James Jungsup Kim unloaded 1,500 shares of Semtech Corp. stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $31.45, for a total value of $47,175.00. Following the transaction, the senior vice president now directly owns 5,170 shares in the company. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Sterne Agee cut their price target on shares of Semtech Corp. (NASDAQ:SMTC) from $46.00 to $40.00 in a research note to investors on Friday, August 23rd. They now have a “buy” rating on the stock. Separately, analysts at Raymond James cut their price target on shares of Semtech Corp. (NASDAQ:SMTC) from $38.00 to $36.00 in a research note to investors on Thursday, August 22nd. They now have a “strong-buy” rating on the stock. Finally, analysts at Oppenheimer cut their price target on shares of Semtech Corp. (NASDAQ:SMTC) from $43.00 to $34.00 in a research note to investors on Thursday, August 22nd. They now have an “outperform” rating on the stock.
One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $37.73.
Shares of Semtech Corp. (NASDAQ:SMTC) traded up 1.47% on Friday, hitting $31.71. 536,723 shares of the company’s stock traded hands. Semtech Corp. has a 1-year low of $22.95 and a 1-year high of $37.45. The stock has a 50-day moving average of $30.31 and a 200-day moving average of $32.9. The company has a market cap of $2.144 billion and a price-to-earnings ratio of 33.64.
Semtech Corp. (NASDAQ:SMTC) last released its earnings data on Wednesday, August 21st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $165.00 million for the quarter, compared to the consensus estimate of $165.02 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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