Insider Selling: Semtech Corp. CFO Sells 2,500 Shares of Stock (SMTC)
Semtech Corp. (NASDAQ:SMTC) CFO Emeka Chukwu unloaded 2,500 shares of Semtech Corp. stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $22.55, for a total transaction of $56,375.00. Following the completion of the transaction, the chief financial officer now directly owns 47,307 shares in the company, valued at approximately $1,066,773. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Semtech Corp. (NASDAQ:SMTC) traded down 3.25% during mid-day trading on Thursday, hitting $22.33. 725,121 shares of the company’s stock traded hands. Semtech Corp. has a 1-year low of $21.38 and a 1-year high of $32.72. The stock has a 50-day moving average of $25.34 and a 200-day moving average of $24.73. The company’s market cap is $1.502 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 Raymond James upgraded shares of Semtech Corp. from an “outperform” rating to a “strong-buy” rating in a research note on Monday. They now have a $29.00 price target 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $32.10.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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