Semtech Corp. CFO Sells $64,625 in Stock (SMTC)
Semtech Corp. (NASDAQ:SMTC) CFO Emeka Chukwu unloaded 2,500 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $25.85, for a total value of $64,625.00. Following the completion of the transaction, the chief financial officer now directly owns 44,807 shares of the company’s stock, valued at approximately $1,158,261. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Semtech Corp. (NASDAQ:SMTC) traded up 1.54% during mid-day trading on Friday, hitting $26.055. The stock had a trading volume of 538,863 shares. 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 $23.74 and its 200-day moving average is $24.81. The company’s market cap is $1.751 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. Analysts expect that Semtech Corp. will post $1.61 EPS for the current fiscal year.
A number of research firms have recently commented on SMTC. 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.17.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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