Semtech (NASDAQ:SMTC) Director Paul Walsh, Jr. Sells 500 Shares

Semtech Corporation (NASDAQ:SMTC) Director Paul Walsh, Jr. sold 500 shares of the stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $66.24, for a total value of $33,120.00. Following the sale, the director owned 26,779 shares in the company, valued at $1,773,840.96. The trade was a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Semtech Stock Down 1.3%

NASDAQ SMTC opened at $67.79 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.53 and a debt-to-equity ratio of 0.94. Semtech Corporation has a 52 week low of $24.05 and a 52 week high of $79.52. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 282.46 and a beta of 2.01. The company has a fifty day moving average of $62.55 and a two-hundred day moving average of $48.31.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new position in Semtech during the 3rd quarter worth $41,000. Bessemer Group Inc. grew its position in shares of Semtech by 78.4% during the 2nd quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company’s stock worth $29,000 after buying an additional 287 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Semtech during the second quarter valued at $33,000. Smartleaf Asset Management LLC raised its holdings in shares of Semtech by 33.4% in the first quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 257 shares in the last quarter. Finally, Archer Investment Corp purchased a new stake in Semtech in the first quarter worth about $64,000.

Analysts Set New Price Targets

Several equities analysts recently commented on SMTC shares. Piper Sandler upped their price target on shares of Semtech from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. TD Cowen initiated coverage on Semtech in a research note on Wednesday, October 1st. They set a “buy” rating and a $75.00 target price on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Semtech in a research note on Wednesday, October 8th. Oppenheimer upgraded Semtech from a “market perform” rating to an “outperform” rating and set a $81.00 price objective for the company in a report on Tuesday, September 30th. Finally, Wall Street Zen upgraded Semtech from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 18th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.36.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.