Semtech Corp. CFO Emeka Chukwu Unloads 2,500 Shares (SMTC)
Semtech Corp. (NASDAQ:SMTC) CFO Emeka Chukwu unloaded 2,500 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $25.95, for a total transaction of $64,875.00. Following the sale, the chief financial officer now directly owns 52,307 shares in the company, valued at approximately $1,357,367. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Semtech Corp. (NASDAQ:SMTC) traded down 0.46% on Friday, hitting $25.94. The stock had a trading volume of 315,635 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 $24.05 and its 200-day moving average is $25.40. The company’s market cap is $1.746 billion.
Semtech Corp. (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.02. The company had revenue of $132.90 million for the quarter, compared to the consensus estimate of $130.27 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was down 18.2% on a year-over-year basis. On average, analysts predict that Semtech Corp. will post $1.61 earnings per share for the current fiscal year.
SMTC has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Semtech Corp. from $30.00 to $31.00 in a research note on Thursday, May 22nd. They now have an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Semtech Corp. from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 29th. They now have a $24.80 price target on the stock. Finally, analysts at TheStreet downgraded shares of Semtech Corp. from a “hold” rating to a “sell” rating in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $31.73.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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