Semtech Corporation (NASDAQ:SMTC) VP Mark C. Costello sold 897 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $36.27, for a total transaction of $32,534.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Semtech Corporation (NASDAQ SMTC) traded down 0.83% on Friday, reaching $35.90. 456,398 shares of the company traded hands. The firm has a market cap of $2.36 billion, a P/E ratio of 39.98 and a beta of 1.45. Semtech Corporation has a 52-week low of $22.81 and a 52-week high of $41.15. The stock has a 50-day moving average price of $38.17 and a 200-day moving average price of $35.77.

Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $153.10 million during the quarter, compared to the consensus estimate of $154.91 million. Semtech Corporation had a net margin of 11.00% and a return on equity of 11.77%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. Analysts anticipate that Semtech Corporation will post $1.89 earnings per share for the current fiscal year.

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A number of brokerages have recently commented on SMTC. Zacks Investment Research lowered shares of Semtech Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday. B. Riley reaffirmed a “buy” rating and set a $48.00 price objective on shares of Semtech Corporation in a research report on Sunday. Drexel Hamilton reaffirmed a “buy” rating and set a $45.00 price objective on shares of Semtech Corporation in a research report on Thursday, August 31st. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $42.00 price objective on shares of Semtech Corporation in a research report on Sunday, August 27th. Finally, BidaskClub lowered shares of Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $43.50.

A number of hedge funds and other institutional investors have recently bought and sold shares of SMTC. Nationwide Fund Advisors boosted its holdings in Semtech Corporation by 6.2% in the 1st quarter. Nationwide Fund Advisors now owns 142,408 shares of the semiconductor company’s stock valued at $4,813,000 after purchasing an additional 8,288 shares during the period. Russell Investments Group Ltd. boosted its holdings in Semtech Corporation by 113.4% in the 1st quarter. Russell Investments Group Ltd. now owns 36,728 shares of the semiconductor company’s stock valued at $1,242,000 after purchasing an additional 19,521 shares during the period. Wells Fargo & Company MN boosted its holdings in Semtech Corporation by 79.4% in the 1st quarter. Wells Fargo & Company MN now owns 110,820 shares of the semiconductor company’s stock valued at $3,746,000 after purchasing an additional 49,056 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Semtech Corporation by 6.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 91,935 shares of the semiconductor company’s stock valued at $3,103,000 after purchasing an additional 5,439 shares during the period. Finally, Chicago Equity Partners LLC boosted its holdings in Semtech Corporation by 1.2% in the 1st quarter. Chicago Equity Partners LLC now owns 28,340 shares of the semiconductor company’s stock valued at $958,000 after purchasing an additional 340 shares during the period. 95.09% of the stock is owned by hedge funds and other institutional investors.

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.

Insider Buying and Selling by Quarter for Semtech Corporation (NASDAQ:SMTC)

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