Imran Sherazi Sells 2,946 Shares of Semtech Co. (NASDAQ:SMTC) Stock

Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi sold 2,946 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the sale, the senior vice president now owns 6,317 shares in the company, valued at approximately $399,866.10. The trade was a 31.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Semtech Price Performance

SMTC stock traded down $0.67 on Monday, hitting $62.88. 1,055,665 shares of the company were exchanged, compared to its average volume of 1,878,627. The stock 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 twelve month low of $18.16 and a twelve month high of $70.27. The business’s fifty day moving average is $53.69 and its two-hundred day moving average is $42.34.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same period in the prior year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities research analysts expect that Semtech Co. will post -0.01 earnings per share for the current year.

Analyst Ratings Changes

SMTC has been the topic of a number of research reports. B. Riley increased their price objective on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Craig Hallum increased their price target on shares of Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Roth Mkm upped their target price on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Benchmark raised their price target on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC boosted their price target on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $68.70.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Huntington National Bank increased its position in shares of Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 302 shares in the last quarter. Arizona State Retirement System raised its position in Semtech by 2.3% in the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock valued at $540,000 after purchasing an additional 407 shares during the period. Hanseatic Management Services Inc. lifted its stake in shares of Semtech by 3.2% during the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 447 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Semtech by 6.9% in the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock worth $214,000 after buying an additional 461 shares during the period. Finally, Creative Planning grew its stake in shares of Semtech by 3.4% in the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after buying an additional 588 shares in the last quarter.

Semtech Company Profile

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.