Insider Selling: Semtech Corp. Director Sells 5,000 Shares of Stock (SMTC)
Semtech Corp. (NASDAQ:SMTC) Director James T. Lindstrom sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $25.55, for a total transaction of $127,750.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $511,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Semtech Corp. (NASDAQ:SMTC) traded up 3.05% during mid-day trading on Thursday, hitting $25.66. 604,510 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 $23.7 and its 200-day moving average is $24.78. The company’s market cap is $1.725 billion.
Semtech Corp. (NASDAQ:SMTC) last issued its quarterly 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. Analysts expect that Semtech Corp. will post $1.61 EPS for the current fiscal year.
A number of analysts have recently weighed in on SMTC shares. Analysts at Goldman Sachs initiated coverage on shares of Semtech Corp. in a research note on Thursday. They set a “buy” rating and a $31.00 price target on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $31.17.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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