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

Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the transaction, the senior vice president now owns 6,317 shares in the company, valued at $399,866.10. This represents a 31.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Semtech Trading Up 2.6 %

Shares of NASDAQ SMTC opened at $64.49 on Wednesday. The stock has a fifty day simple moving average of $54.45 and a two-hundred day simple moving average of $42.75. Semtech Co. has a 1-year low of $18.16 and a 1-year high of $70.27. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of -4.94 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $232.89 million. During the same quarter in the prior year, the company earned $0.02 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. Analysts forecast that Semtech Co. will post -0.01 EPS for the current year.

Institutional Trading of Semtech

Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Millennium Management LLC grew its stake in Semtech by 26.6% in the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after buying an additional 765,877 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in shares of Semtech by 4.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after purchasing an additional 114,999 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Semtech by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock valued at $73,883,000 after purchasing an additional 119,572 shares during the period. Driehaus Capital Management LLC purchased a new stake in Semtech during the 2nd quarter worth about $43,395,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Semtech by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock valued at $48,303,000 after buying an additional 100,410 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SMTC shares. Needham & Company LLC raised their price objective on Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus boosted their price target on shares of Semtech from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. B. Riley upped their price objective on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Northland Securities lifted their target price on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, Benchmark upped their target price on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.70.

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.