Semtech Co. (NASDAQ:SMTC - Get Free Report) SVP Imran Sherazi sold 2,946 shares of the firm's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the sale, the senior vice president now directly owns 6,317 shares in the company, valued at approximately $399,866.10. This represents a 31.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Semtech Stock Performance
SMTC stock traded down $0.67 during midday trading on Monday, reaching $62.88. 1,055,665 shares of the company traded hands, compared to its average volume of 1,878,627. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -4.82 and a beta of 1.65. Semtech Co. has a 52-week low of $18.16 and a 52-week high of $70.27. The business has a 50 day moving average of $53.69 and a 200-day moving average of $42.34.
Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same quarter in the prior year, the firm posted $0.02 EPS. Semtech's quarterly revenue was up 17.9% compared to the same quarter last year. Research analysts anticipate that Semtech Co. will post -0.01 earnings per share for the current year.
Hedge Funds Weigh In On Semtech
Large investors have recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN lifted its stake in Semtech by 343.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company's stock worth $74,550,000 after purchasing an additional 1,932,116 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Semtech in the second quarter worth approximately $43,395,000. Millennium Management LLC lifted its stake in shares of Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company's stock worth $108,956,000 after acquiring an additional 765,877 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in Semtech during the 3rd quarter valued at $32,126,000. Finally, Clearline Capital LP grew its position in Semtech by 143.1% in the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company's stock valued at $26,863,000 after acquiring an additional 529,194 shares during the last quarter.
Wall Street Analysts Forecast Growth
SMTC has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on Semtech from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. B. Riley boosted their target price on shares of Semtech from $61.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Summit Insights cut shares of Semtech from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th. Benchmark boosted their price target on shares of Semtech from $56.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, Roth Mkm raised their price objective on Semtech from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Semtech currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.70.
View Our Latest Research Report on Semtech
Semtech Company Profile
(
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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.
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