Insider Selling: Semtech Co. (NASDAQ:SMTC) VP Sells $105,369.00 in Stock

Semtech Co. (NASDAQ:SMTC) VP Mark C. Costello sold 3,090 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $34.10, for a total value of $105,369.00. Following the sale, the vice president now owns 11,573 shares of the company’s stock, valued at $394,639.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of SMTC stock opened at $37.47 on Thursday. The company has a quick ratio of 3.93, a current ratio of 4.67 and a debt-to-equity ratio of 0.29. Semtech Co. has a twelve month low of $26.03 and a twelve month high of $56.04. The company has a market cap of $2.35 billion, a P/E ratio of 64.60, a P/E/G ratio of 3.97 and a beta of 1.94. The business has a fifty day simple moving average of $41.61 and a 200 day simple moving average of $48.12.

Semtech (NASDAQ:SMTC) last issued its earnings results on Wednesday, March 11th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Semtech had a return on equity of 9.30% and a net margin of 7.16%. The business had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $134.21 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue for the quarter was down 13.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Semtech Co. will post 0.72 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its holdings in Semtech by 184.8% in the 4th quarter. Franklin Resources Inc. now owns 577,363 shares of the semiconductor company’s stock worth $30,543,000 after purchasing an additional 374,617 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Semtech by 16.7% in the 4th quarter. Nuveen Asset Management LLC now owns 713,820 shares of the semiconductor company’s stock worth $37,761,000 after purchasing an additional 102,184 shares in the last quarter. Norges Bank acquired a new position in Semtech in the 4th quarter worth about $47,554,000. Geode Capital Management LLC increased its holdings in Semtech by 11.2% in the 4th quarter. Geode Capital Management LLC now owns 976,204 shares of the semiconductor company’s stock worth $51,641,000 after purchasing an additional 98,332 shares in the last quarter. Finally, Mason Street Advisors LLC increased its holdings in Semtech by 1.0% in the 4th quarter. Mason Street Advisors LLC now owns 35,235 shares of the semiconductor company’s stock worth $1,864,000 after purchasing an additional 345 shares in the last quarter. 96.92% of the stock is owned by institutional investors and hedge funds.

Several analysts recently weighed in on SMTC shares. BidaskClub upgraded Semtech from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research upgraded Semtech from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Tuesday, February 4th. Oppenheimer restated a “buy” rating and set a $52.00 price objective on shares of Semtech in a research report on Wednesday, November 27th. Royal Bank of Canada dropped their price objective on Semtech from to in a research report on Tuesday, March 10th. Finally, B. Riley dropped their price objective on Semtech from $50.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Semtech currently has an average rating of “Buy” and a consensus target price of $45.80.

Semtech Company Profile

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

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