Insider Selling: Semtech Corp. Director Sells 1,250 Shares of Stock (SMTC)
Semtech Corp. (NASDAQ:SMTC) Director Rockell N. Hankin sold 1,250 shares of Semtech Corp. stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $26.98, for a total value of $33,725.00. Following the transaction, the director now directly owns 159,940 shares in the company, valued at approximately $4,315,181. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
SMTC has been the subject of a number of recent research reports. Analysts at Goldman Sachs initiated coverage on shares of Semtech Corp. in a research note on Thursday, August 28th. 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 investment 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 company. The company presently has an average rating of “Hold” and a consensus target price of $31.17.
Semtech Corp. (NASDAQ:SMTC) traded up 0.90% during mid-day trading on Thursday, hitting $26.86. The stock had a trading volume of 686,705 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 $23.79 and its 200-day moving average is $24.88. The company’s market cap is $1.805 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 $1.61 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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