Mark C. Costello Sells 897 Shares of Semtech Corporation (SMTC) Stock
Semtech Corporation (NASDAQ:SMTC) VP Mark C. Costello sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $37.81, for a total transaction of $33,915.57. Following the completion of the transaction, the vice president now owns 897 shares of the company’s stock, valued at $33,915.57. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Mark C. Costello also recently made the following trade(s):
- On Tuesday, June 6th, Mark C. Costello sold 3,025 shares of Semtech Corporation stock. The shares were sold at an average price of $36.16, for a total transaction of $109,384.00.
Shares of Semtech Corporation (SMTC) traded down 4.38% during midday trading on Thursday, hitting $36.05. 439,379 shares of the company traded hands. The stock has a market capitalization of $2.37 billion, a PE ratio of 40.14 and a beta of 1.44. The stock has a 50 day moving average of $37.93 and a 200-day moving average of $35.43. Semtech Corporation has a 52 week low of $22.81 and a 52 week high of $41.15.
Semtech Corporation (NASDAQ:SMTC) last announced its earnings results on Wednesday, May 31st. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $149.10 million for the quarter, compared to the consensus estimate of $145.60 million. Semtech Corporation had a net margin of 10.70% and a return on equity of 12.16%. Semtech Corporation’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. Equities analysts forecast that Semtech Corporation will post $1.85 earnings per share for the current fiscal year.
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SMTC has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Semtech Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Royal Bank Of Canada restated a “hold” rating and issued a $39.00 target price on shares of Semtech Corporation in a research report on Thursday, July 6th. Drexel Hamilton boosted their target price on shares of Semtech Corporation from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, June 1st. Robert W. Baird assumed coverage on shares of Semtech Corporation in a report on Tuesday, May 9th. They set an “outperform” rating and a $45.00 price target on the stock. Finally, B. Riley reaffirmed a “buy” rating and set a $44.00 price target on shares of Semtech Corporation in a report on Sunday, May 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $43.50.
A number of large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its stake in shares of Semtech Corporation by 34.1% in the first quarter. Advisors Asset Management Inc. now owns 3,002 shares of the semiconductor company’s stock worth $101,000 after buying an additional 764 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Semtech Corporation by 74.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,299 shares of the semiconductor company’s stock valued at $112,000 after buying an additional 1,405 shares during the period. Strs Ohio increased its position in Semtech Corporation by 22.2% in the second quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 600 shares during the period. FNY Partners Fund LP increased its position in Semtech Corporation by 515.4% in the first quarter. FNY Partners Fund LP now owns 4,000 shares of the semiconductor company’s stock valued at $135,000 after buying an additional 3,350 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Semtech Corporation during the first quarter valued at approximately $137,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.
About Semtech Corporation
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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