Semtech Corp. (NASDAQ:SMTC) Director Rockell N. Hankin sold 6,795 shares of the firm’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $27.73, for a total value of $188,425.35. Following the transaction, the director now owns 166,735 shares of the company’s stock, valued at $4,623,561.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 24.95 on Friday. The company’s 50-day moving average price is $27.01 and its 200 day moving average price is $24.34. Semtech Corp. has a 1-year low of $15.70 and a 1-year high of $28.20. The stock has a market cap of $1.64 billion, a PE ratio of 59.26 and a beta of 1.37.
Semtech Corp. (NASDAQ:SMTC) last posted its earnings results on Wednesday, August 31st. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Semtech Corp. had a return on equity of 8.89% and a net margin of 5.55%. The firm had revenue of $135.90 million for the quarter. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that Semtech Corp. will post $1.34 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Frontier Capital Management Co. LLC boosted its stake in Semtech Corp. by 36.1% in the second quarter. Frontier Capital Management Co. LLC now owns 2,442,524 shares of the company’s stock valued at $58,279,000 after buying an additional 648,271 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Semtech Corp. by 841.3% in the first quarter. UBS Asset Management Americas Inc. now owns 420,048 shares of the company’s stock valued at $9,236,000 after buying an additional 375,422 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in Semtech Corp. during the second quarter valued at approximately $5,778,000. Vanguard Group Inc. boosted its stake in Semtech Corp. by 4.4% in the second quarter. Vanguard Group Inc. now owns 5,235,323 shares of the company’s stock valued at $124,915,000 after buying an additional 221,743 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Semtech Corp. by 10.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,780,185 shares of the company’s stock valued at $42,475,000 after buying an additional 169,956 shares in the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.
Several equities analysts have recently issued reports on the company. B. Riley reiterated a “buy” rating and issued a $31.50 price objective on shares of Semtech Corp. in a research note on Monday, June 20th. Drexel Hamilton lifted their price objective on Semtech Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, September 1st. Zacks Investment Research cut Semtech Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, MKM Partners reiterated a “hold” rating on shares of Semtech Corp. in a research note on Thursday, June 23rd. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $27.33.
About Semtech Corp.
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
Receive News & Ratings for Semtech Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech Corp. and related companies with MarketBeat.com's FREE daily email newsletter.