Insider Selling: Semtech Co. (NASDAQ:SMTC) EVP Sells 1,000 Shares of Stock

Semtech Co. (NASDAQ:SMTC) EVP Asaf Silberstein sold 1,000 shares of the stock in a transaction dated Friday, January 14th. The shares were sold at an average price of $80.50, for a total transaction of $80,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Asaf Silberstein also recently made the following trade(s):

  • On Wednesday, December 15th, Asaf Silberstein sold 1,000 shares of Semtech stock. The shares were sold at an average price of $88.00, for a total transaction of $88,000.00.

Shares of NASDAQ:SMTC traded up $0.40 during trading on Friday, hitting $80.36. The company’s stock had a trading volume of 417,954 shares, compared to its average volume of 348,125. The company has a 50-day moving average of $87.24 and a 200-day moving average of $76.62. Semtech Co. has a 12 month low of $57.97 and a 12 month high of $94.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.01 and a quick ratio of 3.16. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 49.30, a P/E/G ratio of 3.50 and a beta of 1.48.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, December 1st. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The company had revenue of $194.93 million during the quarter, compared to analyst estimates of $192.92 million. Semtech had a net margin of 14.90% and a return on equity of 15.97%. During the same period in the prior year, the firm posted $0.31 EPS. As a group, research analysts anticipate that Semtech Co. will post 1.87 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in SMTC. Millennium Management LLC increased its holdings in Semtech by 231.9% in the 2nd quarter. Millennium Management LLC now owns 1,220,949 shares of the semiconductor company’s stock worth $84,001,000 after acquiring an additional 853,082 shares in the last quarter. Capital Research Global Investors increased its holdings in Semtech by 156.3% in the 3rd quarter. Capital Research Global Investors now owns 848,100 shares of the semiconductor company’s stock worth $66,126,000 after acquiring an additional 517,200 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Semtech by 19.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,039,937 shares of the semiconductor company’s stock valued at $209,148,000 after buying an additional 502,872 shares in the last quarter. Geneva Capital Management LLC purchased a new stake in Semtech during the 3rd quarter valued at approximately $36,329,000. Finally, Lord Abbett & CO. LLC grew its holdings in Semtech by 47.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,272,620 shares of the semiconductor company’s stock valued at $99,227,000 after buying an additional 411,081 shares in the last quarter. 95.88% of the stock is owned by institutional investors.

SMTC has been the topic of several recent analyst reports. Piper Sandler increased their price objective on shares of Semtech from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, December 2nd. Zacks Investment Research downgraded shares of Semtech from a “buy” rating to a “sell” rating and set a $92.00 price objective on the stock. in a research report on Tuesday, November 2nd. Wells Fargo & Company restated a “buy” rating and set a $85.00 target price on shares of Semtech in a research note on Friday, October 15th. Susquehanna upped their target price on shares of Semtech from $75.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, December 2nd. Finally, B. Riley upped their target price on shares of Semtech from $97.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, November 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $86.45.

Semtech Company Profile

Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.

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

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