Insider Selling: Semtech Co. (NASDAQ:SMTC) SVP Sells $100,350.00 in Stock

Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi sold 1,338 shares of the stock in a transaction 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 transaction, the senior vice president now owns 14 shares in the company, valued at $1,050. The trade was a 98.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 Price Performance

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

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share.

Wall Street Analysts Forecast Growth

SMTC has been the topic of a number of recent analyst reports. Benchmark raised their price target on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price objective (up from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. Craig Hallum raised their price objective on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Roth Mkm raised their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, B. Riley raised their price objective on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $71.09.

Hedge Funds Weigh In On Semtech

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntington National Bank lifted its stake in shares of 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 acquiring an additional 302 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Semtech in the second quarter worth approximately $60,000. NBC Securities Inc. lifted its stake in shares of 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 acquiring an additional 739 shares during the period. Quarry LP acquired a new position in shares of Semtech in the second quarter worth approximately $63,000. Finally, International Assets Investment Management LLC lifted its stake in shares of 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 acquiring an additional 1,652 shares during the period.

About Semtech

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.