Insider Selling: Semtech Co. (NASDAQ:SMTC) SVP Sells $186,481.80 in Stock

Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi sold 2,946 shares of the firm’s 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Semtech Trading Up 2.6 %

SMTC opened at $64.49 on Thursday. Semtech Co. has a 12-month low of $18.16 and a 12-month high of $70.27. The firm has a 50 day moving average of $54.84 and a two-hundred day moving average of $42.90. The firm has a market capitalization of $4.88 billion, a PE ratio of -4.94 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last posted its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 earnings per share. As a group, analysts predict that Semtech Co. will post -0.01 EPS for the current fiscal year.

Institutional Trading of Semtech

A number of hedge funds have recently modified their holdings of the stock. Huntington National Bank lifted its holdings in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 302 shares during the period. Arizona State Retirement System boosted its holdings in Semtech by 2.3% during the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock worth $540,000 after buying an additional 407 shares in the last quarter. Hanseatic Management Services Inc. grew its position in Semtech by 3.2% during the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after buying an additional 447 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Semtech by 6.9% in the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 461 shares during the period. Finally, Creative Planning boosted its stake in shares of Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after acquiring an additional 588 shares in the last quarter.

Wall Street Analyst Weigh In

SMTC has been the topic of several analyst reports. Benchmark lifted their price target on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. B. Riley boosted their target price on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Craig Hallum increased their price target on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Northland Securities boosted their price target on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler restated an “overweight” rating and set a $75.00 price objective (up previously from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.