Semtech Co. (NASDAQ:SMTC – Get Rating) SVP Christopher H. Chang sold 6,950 shares of the stock in a transaction on Monday, March 28th. The shares were sold at an average price of $70.57, for a total value of $490,461.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
SMTC traded up $0.65 during trading on Monday, hitting $71.07. 325,756 shares of the stock traded hands, compared to its average volume of 432,814. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 37.02, a P/E/G ratio of 1.70 and a beta of 1.55. Semtech Co. has a 12-month low of $57.97 and a 12-month high of $94.92. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.91 and a quick ratio of 3.02. The company has a 50-day moving average price of $69.30.
Semtech (NASDAQ:SMTC – Get Rating) last posted its earnings results on Wednesday, March 16th. The semiconductor company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. Semtech had a net margin of 16.96% and a return on equity of 17.89%. The company had revenue of $190.60 million during the quarter, compared to analyst estimates of $189.34 million. During the same period in the prior year, the business posted $0.31 earnings per share. Semtech’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, equities research analysts expect that Semtech Co. will post 2.76 EPS for the current fiscal year.
Several brokerages have recently commented on SMTC. Wells Fargo & Company reduced their price objective on Semtech from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, March 17th. Stifel Nicolaus reduced their price target on shares of Semtech from $102.00 to $95.00 in a research report on Thursday, March 17th. Needham & Company LLC lowered their price objective on shares of Semtech from $100.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, March 17th. Susquehanna Bancshares increased their target price on shares of Semtech from $69.00 to $75.00 in a report on Thursday, March 17th. Finally, B. Riley boosted their price target on shares of Semtech from $83.00 to $87.00 in a research note on Thursday, March 17th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $83.27.
Several hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Semtech in the 4th quarter worth about $51,066,000. Capital Research Global Investors raised its stake in Semtech by 156.3% in the third quarter. Capital Research Global Investors now owns 848,100 shares of the semiconductor company’s stock worth $66,126,000 after buying an additional 517,200 shares in the last quarter. Geneva Capital Management LLC purchased a new stake in Semtech in the third quarter worth about $36,329,000. Allspring Global Investments Holdings LLC bought a new stake in Semtech during the 4th quarter valued at approximately $37,009,000. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Semtech by 47.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,272,620 shares of the semiconductor company’s stock worth $99,227,000 after acquiring an additional 411,081 shares during the period. Hedge funds and other institutional investors own 96.62% of the company’s stock.
Semtech Company Profile
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company 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.