Semtech Corp. CEO Sells $48,060 in Stock (SMTC)
Semtech Corp. (NASDAQ:SMTC) CEO Mohan Maheswaran sold 2,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $24.03, for a total transaction of $48,060.00. Following the transaction, the chief executive officer now directly owns 133,662 shares of the company’s stock, valued at approximately $3,211,898. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Semtech Corp. (NASDAQ:SMTC) traded up 0.12% during mid-day trading on Tuesday, hitting $24.06. 491,910 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 has a 50-day moving average of $26.27 and a 200-day moving average of $29.93. The company has a market cap of $1.651 billion and a price-to-earnings ratio of 27.94.
Semtech Corp. (NASDAQ:SMTC) last announced its earnings results on Monday, November 18th. The company reported $0.35 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.53 earnings per share. Semtech Corp.’s revenue was down 12.3% compared to the same quarter last year. Analysts expect that Semtech Corp. will post $1.56 EPS for the current fiscal year.
SMTC has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Semtech Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 14th. They now have a $24.20 price target on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $32.91.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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