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.

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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.

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

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