Rockell N. Hankin Sells 10,000 Shares of Semtech Co. (SMTC) Stock

Semtech Co. (NASDAQ:SMTC) Director Rockell N. Hankin sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $50.04, for a total transaction of $500,400.00. Following the sale, the director now directly owns 144,940 shares in the company, valued at $7,252,797.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

NASDAQ:SMTC opened at $52.24 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.53 and a current ratio of 4.03. Semtech Co. has a 52 week low of $31.30 and a 52 week high of $60.55. The firm has a market capitalization of $3.30 billion, a PE ratio of 37.31, a PEG ratio of 2.55 and a beta of 1.78.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, November 28th. The semiconductor company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Semtech had a net margin of 7.97% and a return on equity of 14.23%. The company had revenue of $173.60 million for the quarter, compared to analyst estimates of $173.06 million. During the same period in the prior year, the firm posted $0.54 EPS. The company’s quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts forecast that Semtech Co. will post 1.57 earnings per share for the current year.



Large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its position in shares of Semtech by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 22,005 shares of the semiconductor company’s stock valued at $1,009,000 after acquiring an additional 200 shares during the period. Avitas Wealth Management LLC lifted its position in shares of Semtech by 2.9% during the 3rd quarter. Avitas Wealth Management LLC now owns 37,043 shares of the semiconductor company’s stock valued at $2,060,000 after acquiring an additional 1,031 shares during the period. Vanguard Group Inc lifted its position in shares of Semtech by 1.8% during the 3rd quarter. Vanguard Group Inc now owns 6,807,219 shares of the semiconductor company’s stock valued at $378,481,000 after acquiring an additional 122,945 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Semtech during the 3rd quarter valued at $332,000. Finally, Clearbridge Investments LLC lifted its position in shares of Semtech by 942,042.9% during the 3rd quarter. Clearbridge Investments LLC now owns 263,800 shares of the semiconductor company’s stock valued at $14,667,000 after acquiring an additional 263,772 shares during the period. 99.58% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on the stock. B. Riley reissued a “buy” rating and set a $61.00 target price (up from $58.00) on shares of Semtech in a report on Thursday, November 29th. BidaskClub lowered shares of Semtech from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Zacks Investment Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating and set a $68.00 price objective on the stock in a research note on Tuesday, September 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Semtech in a research note on Thursday, November 29th. Finally, Piper Jaffray Companies upped their price objective on shares of Semtech from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, November 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $59.82.

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About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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