Rockell N. Hankin Sells 6,795 Shares of Semtech Corp. (SMTC) Stock
Semtech Corp. (NASDAQ:SMTC) Director Rockell N. Hankin sold 6,795 shares of Semtech Corp. stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $27.73, for a total value of $188,425.35. Following the sale, the director now directly owns 166,735 shares of the company’s stock, valued at approximately $4,623,561.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Semtech Corp. (NASDAQ:SMTC) opened at 25.98 on Wednesday. Semtech Corp. has a one year low of $15.70 and a one year high of $28.21. The company’s 50-day moving average price is $27.07 and its 200-day moving average price is $24.32. The stock has a market cap of $1.70 billion, a P/E ratio of 61.71 and a beta of 1.37.
Semtech Corp. (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, August 31st. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The firm earned $135.90 million during the quarter. Semtech Corp. had a return on equity of 8.89% and a net margin of 5.55%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. Analysts forecast that Semtech Corp. will post $1.34 EPS for the current fiscal year.
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Several research analysts have recently commented on the company. B. Riley reiterated a “buy” rating and issued a $37.00 price objective on shares of Semtech Corp. in a report on Tuesday. Drexel Hamilton reiterated a “buy” rating and issued a $32.00 price objective on shares of Semtech Corp. in a report on Saturday. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Semtech Corp. in a report on Monday, September 5th. Zacks Investment Research downgraded Semtech Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, MKM Partners reiterated a “hold” rating on shares of Semtech Corp. in a report on Thursday, June 23rd. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $27.33.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning raised its position in shares of Semtech Corp. by 0.4% in the second quarter. Creative Planning now owns 6,528 shares of the company’s stock worth $156,000 after buying an additional 28 shares during the last quarter. PineBridge Investments L.P. raised its position in shares of Semtech Corp. by 4.4% in the second quarter. PineBridge Investments L.P. now owns 8,278 shares of the company’s stock worth $198,000 after buying an additional 348 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Semtech Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,134 shares of the company’s stock worth $218,000 after buying an additional 1,105 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Semtech Corp. during the second quarter worth $224,000. Finally, Aspen Investment Management Inc purchased a new position in shares of Semtech Corp. during the second quarter worth $230,000. Hedge funds and other institutional investors own 95.43% of the company’s stock.
About Semtech Corp.
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
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