Semtech Corp. EVP Jeffrey Pohlman Sells 18,585 Shares (SMTC)
Semtech Corp. (NASDAQ:SMTC) EVP Jeffrey Pohlman sold 18,585 shares of the company’s stock on the open market in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $24.17, for a total value of $449,199.45. Following the transaction, the executive vice president now directly owns 136,611 shares in the company, valued at approximately $3,301,888. The sale was disclosed in a document filed with the SEC, which is available at this link.
SMTC has been the subject of a number of recent research reports. Analysts at MKM Partners cut their price target on shares of Semtech Corp. from $38.00 to $33.00 in a research note to investors on Thursday, December 19th. They now have a “buy” rating on the stock. Separately, analysts at Williams Financial Group downgraded shares of Semtech Corp. from a “buy” rating to a “hold” rating in a research note to investors on Thursday, December 19th. They now have a $27.00 price target on the stock, down previously from $32.00. Finally, analysts at Raymond James downgraded shares of Semtech Corp. from a “strong-buy” rating to an “outperform” rating in a research note to investors on Thursday, December 19th. They now have a $26.00 price target on the stock, down previously from $36.00. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $33.33.
Semtech Corp. (NASDAQ:SMTC) traded down 0.04% during mid-day trading on Tuesday, hitting $24.31. 528,170 shares of the company’s stock traded hands. Semtech Corp. has a 52 week low of $22.57 and a 52 week high of $37.45. The stock’s 50-day moving average is $27.76 and its 200-day moving average is $30.57. The company has a market cap of $1.669 billion and a price-to-earnings ratio of 28.28.
Semtech Corp. (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $141.02 million for the quarter, compared to the consensus estimate of $145.05 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, analysts predict that Semtech Corp. will post $1.56 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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