Insider Selling: Semtech Corporation (SMTC) EVP Sells 2,250 Shares of Stock
Semtech Corporation (NASDAQ:SMTC) EVP Charles B. Ammann sold 2,250 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $37.72, for a total transaction of $84,870.00. Following the transaction, the executive vice president now directly owns 14,905 shares of the company’s stock, valued at $562,216.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Semtech Corporation (NASDAQ:SMTC) traded up 0.26% during trading on Tuesday, reaching $38.30. 362,391 shares of the company traded hands. Semtech Corporation has a 12 month low of $22.81 and a 12 month high of $41.15. The stock has a market capitalization of $2.54 billion, a PE ratio of 40.49 and a beta of 1.45. The company has a 50-day moving average of $36.63 and a 200-day moving average of $36.04.
Semtech Corporation (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $154.91 million. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 EPS. Analysts forecast that Semtech Corporation will post $1.89 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of SMTC. BlackRock Inc. raised its stake in Semtech Corporation by 32,758.7% in the first quarter. BlackRock Inc. now owns 8,382,260 shares of the semiconductor company’s stock valued at $283,320,000 after purchasing an additional 8,356,750 shares in the last quarter. FMR LLC lifted its position in Semtech Corporation by 15.5% during the second quarter. FMR LLC now owns 8,376,134 shares of the semiconductor company’s stock worth $299,446,000 after purchasing an additional 1,124,083 shares during the period. Frontier Capital Management Co. LLC lifted its position in Semtech Corporation by 21.1% during the second quarter. Frontier Capital Management Co. LLC now owns 2,634,349 shares of the semiconductor company’s stock worth $94,178,000 after purchasing an additional 459,808 shares during the period. Fiera Capital Corp bought a new stake in Semtech Corporation during the second quarter worth about $11,770,000. Finally, Fisher Asset Management LLC lifted its position in Semtech Corporation by 409.3% during the second quarter. Fisher Asset Management LLC now owns 407,323 shares of the semiconductor company’s stock worth $14,562,000 after purchasing an additional 327,351 shares during the period. Institutional investors own 94.42% of the company’s stock.
Several research firms recently issued reports on SMTC. B. Riley reissued a “buy” rating and issued a $48.00 price target on shares of Semtech Corporation in a research report on Tuesday, June 6th. Robert W. Baird restated an “outperform” rating and set a $45.00 price target on shares of Semtech Corporation in a research note on Tuesday, June 13th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $39.00 price objective on shares of Semtech Corporation in a report on Thursday, July 6th. BidaskClub downgraded Semtech Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating and issued a $42.00 price objective on shares of Semtech Corporation in a research note on Sunday, August 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. Semtech Corporation currently has a consensus rating of “Buy” and a consensus price target of $43.50.
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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