Semtech (NASDAQ:SMTC) EVP Sells $612,975.00 in Stock

Semtech Corporation (NASDAQ:SMTC) EVP Jason Elliot Green sold 7,500 shares of Semtech stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total transaction of $612,975.00. Following the completion of the transaction, the executive vice president directly owned 8,811 shares of the company’s stock, valued at approximately $720,123.03. This represents a 45.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Semtech Stock Performance

Shares of NASDAQ:SMTC traded up $2.61 on Thursday, reaching $82.65. 2,069,972 shares of the company’s stock were exchanged, compared to its average volume of 1,920,716. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of -187.84 and a beta of 2.05. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $96.46. The business’s 50-day moving average is $83.78 and its two-hundred day moving average is $75.35. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.89.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The business had revenue of $274.40 million during the quarter, compared to analyst estimates of $273.14 million. During the same period in the previous year, the business posted $0.40 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Semtech Corporation will post -0.02 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on SMTC shares. Weiss Ratings downgraded Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, March 24th. Robert W. Baird raised their price target on Semtech from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Needham & Company LLC boosted their price objective on Semtech from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Wall Street Zen downgraded Semtech from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 26th. Finally, Craig Hallum increased their target price on Semtech from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.14.

Institutional Investors Weigh In On Semtech

Several large investors have recently made changes to their positions in the company. New York State Common Retirement Fund increased its holdings in shares of Semtech by 55.7% during the third quarter. New York State Common Retirement Fund now owns 277,661 shares of the semiconductor company’s stock valued at $19,839,000 after purchasing an additional 99,335 shares during the period. Nordea Investment Management AB lifted its holdings in Semtech by 24.4% in the third quarter. Nordea Investment Management AB now owns 117,669 shares of the semiconductor company’s stock worth $7,992,000 after purchasing an additional 23,086 shares during the period. Lisanti Capital Growth LLC bought a new position in Semtech in the 3rd quarter valued at about $4,318,000. Allspring Global Investments Holdings LLC bought a new position in Semtech in the 3rd quarter valued at about $9,160,000. Finally, Hodges Capital Management Inc. acquired a new position in Semtech during the 3rd quarter valued at about $4,624,000.

About Semtech

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.