Semtech Corp. CEO Sells $61,100 in Stock (SMTC)
Semtech Corp. (NASDAQ:SMTC) CEO Mohan Maheswaran unloaded 2,500 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $24.44, for a total transaction of $61,100.00. Following the completion of the sale, the chief executive officer now directly owns 146,985 shares in the company, valued at approximately $3,592,313. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Raymond James upgraded shares of Semtech Corp. from an “outperform” rating to a “strong-buy” rating in a research note on Monday, July 28th. 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 research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $33.14.
Shares of Semtech Corp. (NASDAQ:SMTC) traded up 2.74% during mid-day trading on Wednesday, hitting $24.00. The stock had a trading volume of 2,512,377 shares. Semtech Corp. has a 52 week low of $21.38 and a 52 week high of $32.72. The stock has a 50-day moving average of $23.82 and a 200-day moving average of $24.67. The company’s market cap is $1.615 billion.
Semtech Corp. (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, August 20th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.39 by $0.03. The company had revenue of $145.70 million for the quarter, compared to the consensus estimate of $142.20 million. During the same quarter last year, the company posted $0.52 earnings per share. Semtech Corp.’s revenue was down 11.7% compared to the same quarter last year. 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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