Paul Walsh, Jr. Sells 500 Shares of Semtech (NASDAQ:SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) Director Paul Walsh, Jr. sold 500 shares of Semtech stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total value of $69,105.00. Following the completion of the transaction, the director owned 23,279 shares of the company’s stock, valued at approximately $3,217,390.59. This trade represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Trading Up 7.0%

Shares of Semtech stock traded up $10.25 on Friday, reaching $156.78. The company had a trading volume of 6,403,278 shares, compared to its average volume of 2,193,236. Semtech Corporation has a 1 year low of $34.59 and a 1 year high of $164.33. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.66. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of -356.32 and a beta of 2.22. The firm’s 50-day moving average price is $99.57 and its two-hundred day moving average price is $85.62.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The firm had revenue of $274.40 million during the quarter, compared to analyst estimates of $273.14 million. During the same period last year, the company earned $0.40 EPS. Semtech’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Semtech Corporation will post 1.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SMTC. Think Investments LP purchased a new position in shares of Semtech in the 3rd quarter valued at $58,618,000. Ameriprise Financial Inc. grew its position in shares of Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after buying an additional 666,456 shares during the last quarter. Atreides Management LP purchased a new position in shares of Semtech in the 2nd quarter worth approximately $29,880,000. Westfield Capital Management Co. LP lifted its position in Semtech by 23.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company’s stock valued at $241,528,000 after acquiring an additional 633,113 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Semtech by 323.0% during the first quarter. Assenagon Asset Management S.A. now owns 781,003 shares of the semiconductor company’s stock valued at $60,051,000 after acquiring an additional 596,373 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Benchmark raised their price target on Semtech from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Wall Street Zen lowered Semtech from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 26th. Susquehanna raised their price target on Semtech from $110.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday. Weiss Ratings lowered Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, March 24th. Finally, Craig Hallum lifted their target price on Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.50.

Semtech Company Profile

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.