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Semtech Corp. (NASDAQ:SMTC) fell 1.7% on Tuesday after an insider sold shares in the company, American Banking and Market News reports. The company traded as low as $24.37 and last traded at $24.40, with a volume of 388,338 shares. The stock had previously closed at $24.82.

Specifically, CEO Mohan Maheswaran unloaded 4,400 shares of the company’s stock on the open market in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $24.51, for a total value of $107,844.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

A number of research firms have recently commented on SMTC. 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 equities research 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. The stock has an average rating of “Hold” and an average price target of $31.73.

The stock’s 50-day moving average is $26.21 and its 200-day moving average is $24.81. The company’s market cap is $1.623 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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