Semtech Corporation (NASDAQ:SMTC) VP Mark C. Costello sold 897 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $36.27, for a total transaction of $32,534.19. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Semtech Corporation (NASDAQ:SMTC) opened at 35.90 on Monday. The stock has a market cap of $2.36 billion, a PE ratio of 39.98 and a beta of 1.45. Semtech Corporation has a 1-year low of $22.81 and a 1-year high of $41.15. The stock’s 50 day moving average is $38.06 and its 200-day moving average is $35.77.
Semtech Corporation (NASDAQ:SMTC) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Semtech Corporation had a net margin of 11.00% and a return on equity of 11.77%. The company had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $154.91 million. During the same quarter last year, the business earned $0.35 EPS. The business’s revenue was up 12.7% on a year-over-year basis. On average, analysts predict that Semtech Corporation will post $1.89 EPS for the current fiscal year.
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A number of research analysts have weighed in on SMTC shares. B. Riley reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Semtech Corporation in a report on Tuesday, June 6th. Drexel Hamilton lifted their price objective on shares of Semtech Corporation from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, June 1st. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Semtech Corporation in a report on Sunday, August 27th. BidaskClub cut shares of Semtech Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $39.00 price objective on shares of Semtech Corporation in a report on Thursday, July 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $43.50.
Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of 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 in the last quarter. Legato Capital Management LLC increased its holdings in shares of Semtech Corporation by 890.2% in the 2nd quarter. Legato Capital Management LLC now owns 18,814 shares of the semiconductor company’s stock valued at $673,000 after purchasing an additional 16,914 shares in the last quarter. Nationwide Fund Advisors increased its holdings in shares of 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 in the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of Semtech Corporation by 5.0% in the 1st quarter. Thrivent Financial For Lutherans now owns 37,010 shares of the semiconductor company’s stock valued at $1,251,000 after purchasing an additional 1,760 shares in the last quarter. Finally, Sensato Investors LLC purchased a new position in shares of Semtech Corporation in the 1st quarter valued at about $247,000. Institutional investors and hedge funds own 94.43% of the company’s stock.
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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