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

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

Semtech Stock Down 1.1 %

Shares of NASDAQ:SMTC opened at $62.88 on Tuesday. Semtech Co. has a fifty-two week low of $18.16 and a fifty-two week high of $70.27. The firm’s 50 day moving average price is $54.04 and its 200 day moving average price is $42.52. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of -4.82 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The company’s revenue was up 17.9% on a year-over-year basis. During the same period last year, the business earned $0.02 EPS. On average, equities analysts anticipate that Semtech Co. will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN boosted its holdings in Semtech by 343.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after purchasing an additional 1,932,116 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Semtech during the 2nd quarter worth approximately $43,395,000. Millennium Management LLC boosted its holdings in shares of 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. Whale Rock Capital Management LLC purchased a new position in shares of Semtech in the 3rd quarter valued at $32,126,000. Finally, Clearline Capital LP raised its stake in Semtech by 143.1% during the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock worth $26,863,000 after acquiring an additional 529,194 shares in the last quarter.

Analyst Ratings Changes

SMTC has been the subject of several research reports. Northland Securities lifted their target price on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Roth Mkm raised their target price on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. B. Riley boosted their price target on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $75.00 price objective (up previously from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.70.

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.