Semtech Corp. CEO Mohan Maheswaran Sells 4,400 Shares (SMTC)
Semtech Corp. (NASDAQ:SMTC) CEO Mohan Maheswaran unloaded 4,400 shares of Semtech Corp. stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $26.74, for a total transaction of $117,656.00. Following the completion of the transaction, the chief executive officer now directly owns 157,985 shares of the company’s stock, valued at approximately $4,224,519. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. 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. 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. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.73.
Semtech Corp. (NASDAQ:SMTC) traded down 2.01% on Tuesday, hitting $26.26. The stock had a trading volume of 432,494 shares. Semtech Corp. has a 52-week low of $21.38 and a 52-week high of $35.74. The stock has a 50-day moving average of $25.26 and a 200-day moving average of $24.97. The company’s market cap is $1.767 billion.
Semtech Corp. (NASDAQ:SMTC) last announced its earnings results 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. Analysts expect that Semtech Corp. will post $1.61 EPS for the current fiscal year.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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