Semtech (NASDAQ:SMTC) EVP Jason Elliot Green Sells 7,500 Shares

Semtech Corporation (NASDAQ:SMTC) EVP Jason Elliot Green sold 7,500 shares of Semtech stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total transaction of $612,975.00. Following the completion of the transaction, the executive vice president directly owned 8,811 shares in the company, valued at approximately $720,123.03. The trade was a 45.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Semtech Trading Up 3.3%

NASDAQ:SMTC opened at $82.65 on Friday. The firm has a market capitalization of $7.68 billion, a P/E ratio of -187.84 and a beta of 2.06. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.89. The company has a fifty day moving average of $83.83 and a 200 day moving average of $75.40. Semtech Corporation has a 52 week low of $24.05 and a 52 week high of $96.46.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $274.40 million for the quarter, compared to analysts’ expectations of $273.14 million. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 earnings per share. On average, research analysts predict that Semtech Corporation will post -0.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Semtech from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Robert W. Baird boosted their target price on Semtech from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Craig Hallum upped their target price on Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Weiss Ratings lowered Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, March 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $115.00 target price on shares of Semtech in a research report on Tuesday, March 17th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.14.

Hedge Funds Weigh In On Semtech

Several large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. raised its holdings in Semtech by 243.2% in the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after buying an additional 360 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Semtech during the third quarter valued at approximately $41,000. AlphaQuest LLC increased its position in shares of Semtech by 42.5% during the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 173 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Semtech by 65.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 235 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in Semtech by 1,745.5% in the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 576 shares during the last quarter.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.