Insider Selling: Semtech Corp. CEO Sells 4,400 Shares of Stock (SMTC)
Semtech Corp. (NASDAQ:SMTC) CEO Mohan Maheswaran sold 4,400 shares of Semtech Corp. stock on the open market in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $24.87, for a total value of $109,428.00. Following the sale, the chief executive officer now directly owns 144,985 shares of the company’s stock, valued at approximately $3,605,777. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
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, August 21st. 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, August 21st. 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 analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.20.
Shares of Semtech Corp. (NASDAQ:SMTC) traded up 0.95% on Tuesday, hitting $24.955. 454,523 shares of the company’s stock traded hands. Semtech Corp. has a one year low of $21.38 and a one year high of $32.72. The stock’s 50-day moving average is $23.79 and its 200-day moving average is $24.76. The company’s market cap is $1.677 billion.
Semtech Corp. (NASDAQ:SMTC) last released its earnings data on Wednesday, August 20th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.03. The company had revenue of $145.70 million for the quarter. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was down 11.7% on a year-over-year basis. On average, analysts predict that Semtech Corp. will post $1.60 earnings per share for the current fiscal year.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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