Semtech (NASDAQ:SMTC) CEO Sells $180,220.00 in Stock

Semtech Corporation (NASDAQ:SMTC) CEO Hong Hou sold 2,000 shares of Semtech stock in a transaction on Friday, April 10th. The shares were sold at an average price of $90.11, for a total value of $180,220.00. Following the completion of the transaction, the chief executive officer owned 73,228 shares in the company, valued at $6,598,575.08. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Down 1.9%

Shares of NASDAQ:SMTC traded down $1.71 on Tuesday, reaching $90.12. The company had a trading volume of 2,384,150 shares, compared to its average volume of 2,950,919. Semtech Corporation has a 52-week low of $24.05 and a 52-week high of $96.46. The firm’s 50 day simple moving average is $84.45 and its 200-day simple moving average is $76.99. The firm has a market capitalization of $8.38 billion, a PE ratio of -204.82 and a beta of 2.06. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89.

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

Wall Street Analysts Forecast Growth

SMTC has been the subject of a number of recent analyst reports. Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 26th. Morgan Stanley lifted their target price on shares of Semtech from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, March 16th. Benchmark lifted their target price on shares of Semtech from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday. Susquehanna lifted their target price on shares of Semtech from $90.00 to $100.00 and gave the stock a “positive” rating in a research note on Monday, March 9th. Finally, Robert W. Baird lifted their target price on shares of Semtech from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.50.

Institutional Trading of Semtech

Large investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its stake in Semtech by 55.7% during the 3rd quarter. New York State Common Retirement Fund now owns 277,661 shares of the semiconductor company’s stock valued at $19,839,000 after purchasing an additional 99,335 shares during the last quarter. Nordea Investment Management AB grew its stake in Semtech by 24.4% during the 3rd quarter. Nordea Investment Management AB now owns 117,669 shares of the semiconductor company’s stock valued at $7,992,000 after purchasing an additional 23,086 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in Semtech during the 3rd quarter valued at about $4,318,000. Allspring Global Investments Holdings LLC purchased a new stake in Semtech during the 3rd quarter valued at about $9,160,000. Finally, Hodges Capital Management Inc. purchased a new stake in Semtech during the 3rd quarter valued at about $4,624,000.

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.