Insider Selling: Semtech Co. (NASDAQ:SMTC) SVP Sells 1,338 Shares of Stock

Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the sale, the senior vice president now owns 14 shares of the company’s stock, valued at approximately $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Imran Sherazi also recently made the following trade(s):

• On Thursday, December 19th, Imran Sherazi sold 2,946 shares of Semtech stock. The stock was sold at an average price of $63.30, for a total value of $186,481.80.

Semtech Stock Down 3.8 %

Shares of NASDAQ:SMTC opened at $73.02 on Friday. Semtech Co. has a 12-month low of $18.72 and a 12-month high of $79.52. The business’s 50 day moving average is $64.42 and its 200 day moving average is $48.54.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) 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 analysts’ expectations of $232.89 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. Semtech’s quarterly revenue was up 17.9% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank boosted its position in 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 purchasing an additional 302 shares during the last quarter. NBC Securities Inc. boosted its position in Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 739 shares during the last quarter. International Assets Investment Management LLC boosted its position in Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 1,652 shares during the last quarter. Pacer Advisors Inc. boosted its position in Semtech by 51.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 598 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Semtech in the second quarter worth $60,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SMTC. B. Riley boosted their price objective on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus boosted their price objective on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 6th. Roth Mkm boosted their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Needham & Company LLC boosted their price objective on Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Susquehanna boosted their price objective on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.09.

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.