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Semtech Corp. (NASDAQ:SMTC) CEO Mohan Maheswaran unloaded 2,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $23.69, for a total transaction of $47,380.00. Following the sale, the chief executive officer now directly owns 129,662 shares of the company’s stock, valued at approximately $3,071,693. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of Semtech Corp. (NASDAQ:SMTC) traded up 1.19% on Wednesday, hitting $23.84. The stock had a trading volume of 642,694 shares. Semtech Corp. has a 52-week low of $21.38 and a 52-week high of $37.45. The stock’s 50-day moving average is $23.42 and its 200-day moving average is $28.33. The company has a market cap of $1.636 billion and a price-to-earnings ratio of 27.40.

SMTC has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Semtech Corp. from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 12th. They now have a $21.90 price target on the stock. Finally, analysts at MKM Partners cut their price target on shares of Semtech Corp. from $38.00 to $33.00 in a research note on Thursday, December 19th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.66.

Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.

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