Insider Selling: Mohan Maheswaran Sells 2,000 Shares of Semtech Corp. Stock (SMTC)
Semtech Corp. (NASDAQ:SMTC) CEO Mohan Maheswaran sold 2,000 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $30.33, for a total value of $60,660.00. Following the completion of the transaction, the chief executive officer now directly owns 147,662 shares of the company’s stock, valued at approximately $4,478,588. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on SMTC shares. Analysts at B. Riley downgraded shares of Semtech Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, September 25th. Separately, analysts at Sterne Agee cut their price target on shares of Semtech Corp. 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. Finally, analysts at Raymond James cut their price target on shares of Semtech Corp. 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $37.73.
Semtech Corp. (NASDAQ:SMTC) traded down 0.33% during mid-day trading on Tuesday, hitting $30.06. 720,390 shares of the company’s stock traded hands. Semtech Corp. has a 52 week low of $22.95 and a 52 week high of $37.45. The stock’s 50-day moving average is $30.61 and its 200-day moving average is $32.80. The company has a market cap of $2.046 billion and a price-to-earnings ratio of 32.47.
Semtech Corp. (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.52 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.41 earnings per share. Semtech Corp.’s revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that Semtech Corp. will post $1.67 earnings per share for the current fiscal year.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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