Semtech Corporation (NASDAQ:SMTC) EVP Charles B. Ammann sold 2,250 shares of Semtech Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $39.89, for a total value of $89,752.50. Following the completion of the transaction, the executive vice president now owns 14,905 shares of the company’s stock, valued at approximately $594,560.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Semtech Corporation (SMTC) traded up 1.32% on Friday, hitting $38.40. The company’s stock had a trading volume of 350,740 shares. The stock has a 50-day moving average price of $37.13 and a 200 day moving average price of $35.03. Semtech Corporation has a one year low of $22.81 and a one year high of $41.15. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 42.76 and a beta of 1.44.
Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. Semtech Corporation had a net margin of 10.70% and a return on equity of 12.16%. The business had revenue of $149.10 million during the quarter, compared to analysts’ expectations of $145.60 million. During the same quarter in the prior year, the company posted $0.30 EPS. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts predict that Semtech Corporation will post $1.85 EPS for the current year.
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Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Semtech Corporation by 32,758.7% in the first quarter. BlackRock Inc. now owns 8,382,260 shares of the semiconductor company’s stock valued at $283,320,000 after buying an additional 8,356,750 shares during the period. FMR LLC boosted its stake in Semtech Corporation by 13.9% in the first quarter. FMR LLC now owns 7,252,051 shares of the semiconductor company’s stock valued at $245,119,000 after buying an additional 886,529 shares during the period. Vanguard Group Inc. boosted its stake in Semtech Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,004,655 shares of the semiconductor company’s stock valued at $202,958,000 after buying an additional 320,207 shares during the period. Frontier Capital Management Co. LLC boosted its stake in Semtech Corporation by 21.1% in the second quarter. Frontier Capital Management Co. LLC now owns 2,634,349 shares of the semiconductor company’s stock valued at $94,178,000 after buying an additional 459,808 shares during the period. Finally, State Street Corp boosted its stake in Semtech Corporation by 7.3% in the first quarter. State Street Corp now owns 1,815,889 shares of the semiconductor company’s stock valued at $61,377,000 after buying an additional 123,192 shares during the period. 93.75% of the stock is owned by institutional investors and hedge funds.
SMTC has been the subject of several recent research reports. Zacks Investment Research upgraded Semtech Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Drexel Hamilton lifted their price target on Semtech Corporation from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, June 1st. Robert W. Baird initiated coverage on Semtech Corporation in a research report on Tuesday, May 9th. They issued an “outperform” rating and a $45.00 price target for the company. Royal Bank Of Canada reiterated a “hold” rating and issued a $39.00 price target on shares of Semtech Corporation in a research report on Thursday, July 6th. Finally, B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of Semtech Corporation in a research report on Sunday, May 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.50.
About Semtech Corporation
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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