Semtech Corp. CEO Sells $61,100 in Stock (SMTC)
Semtech Corp. (NASDAQ:SMTC) CEO Mohan Maheswaran unloaded 2,500 shares of the company’s stock on the open market in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $24.44, for a total value of $61,100.00. Following the sale, the chief executive officer now directly owns 146,985 shares of the company’s stock, valued at approximately $3,592,313. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Semtech Corp. (NASDAQ:SMTC) opened at 25.15 on Friday. Semtech Corp. has a 52-week low of $21.38 and a 52-week high of $32.72. The stock’s 50-day moving average is $23.79 and its 200-day moving average is $24.68. The company’s market cap is $1.690 billion.
Semtech Corp. (NASDAQ:SMTC) last announced its earnings results 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. 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. On average, analysts predict that Semtech Corp. will post $1.60 earnings per share for the current fiscal year.
A number of research firms have recently commented on SMTC. Analysts at MKM Partners raised their price target on shares of Semtech Corp. from $33.00 to $34.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Semtech Corp. from $31.00 to $32.00 in a research note on Thursday. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Semtech Corp. presently has a consensus rating of “Buy” and an average price target of $33.43.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.