Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi Sells 1,338 Shares

Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi sold 1,338 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now owns 14 shares of the company’s stock, valued at $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 Stock Performance

Shares of SMTC traded down $1.15 during midday trading on Wednesday, hitting $76.00. 1,681,582 shares of the stock traded hands, compared to its average volume of 1,789,388. Semtech Co. has a 1-year low of $18.72 and a 1-year high of $79.52. The business’s 50 day moving average price is $62.73 and its two-hundred day moving average price is $47.88. The firm has a market capitalization of $5.75 billion, a PE ratio of -5.82 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during 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 firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS.

Institutional Investors Weigh In On Semtech

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D acquired a new stake in shares of Semtech during the second quarter valued at approximately $1,369,000. Intech Investment Management LLC acquired a new position in Semtech in the 2nd quarter worth about $400,000. Canada Pension Plan Investment Board bought a new position in Semtech during the second quarter valued at approximately $60,000. Public Sector Pension Investment Board boosted its holdings in Semtech by 7.8% in the second quarter. Public Sector Pension Investment Board now owns 142,060 shares of the semiconductor company’s stock worth $4,245,000 after purchasing an additional 10,290 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in shares of Semtech during the 2nd quarter worth about $14,307,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SMTC shares. B. Riley increased 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. Roth Mkm upped their price target on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Northland Securities raised their price objective on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Stifel Nicolaus upped their target price on shares of Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Craig Hallum lifted their price target on Semtech from $48.00 to $70.00 and gave the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.09.

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.