Traders Purchase High Volume of Semtech Put Options (SMTC)

Semtech Co. (NASDAQ:SMTC) was the target of unusually large options trading activity on Thursday. Investors bought 1,505 put options on the company. This represents an increase of 910% compared to the average daily volume of 149 put options.

SMTC has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Semtech from a “hold” rating to a “sell” rating in a report on Tuesday, December 5th. Oppenheimer reiterated a “buy” rating and issued a $42.00 target price on shares of Semtech in a report on Sunday, November 19th. Piper Jaffray Companies initiated coverage on shares of Semtech in a report on Monday, December 18th. They issued a “neutral” rating and a $35.00 target price for the company. BWS Financial initiated coverage on shares of Semtech in a report on Monday, November 20th. They issued a “buy” rating and a $49.00 target price for the company. Finally, B. Riley reiterated a “buy” rating and issued a $46.00 target price (down from $48.00) on shares of Semtech in a report on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Semtech presently has an average rating of “Buy” and a consensus price target of $41.90.

Semtech (SMTC) opened at $33.55 on Friday. Semtech has a fifty-two week low of $31.30 and a fifty-two week high of $41.95. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2,226.32, a PE ratio of 48.62, a PEG ratio of 4.50 and a beta of 1.41.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.04. Semtech had a net margin of 7.79% and a return on equity of 12.13%. The firm had revenue of $156.60 million for the quarter, compared to the consensus estimate of $155.69 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. sell-side analysts forecast that Semtech will post 1.21 EPS for the current year.

In other Semtech news, insider Mohan Maheswaran sold 22,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.63, for a total value of $717,860.00. Following the completion of the transaction, the insider now directly owns 196,872 shares in the company, valued at $6,423,933.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Emeka Chukwu sold 2,000 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $38.00, for a total transaction of $76,000.00. Following the completion of the transaction, the chief financial officer now owns 69,776 shares of the company’s stock, valued at $2,651,488. The disclosure for this sale can be found here. Insiders sold 94,784 shares of company stock valued at $3,255,785 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Semtech during the third quarter valued at about $133,000. Teacher Retirement System of Texas acquired a new position in shares of Semtech during the third quarter valued at about $204,000. Stifel Financial Corp acquired a new position in shares of Semtech during the third quarter valued at about $209,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Semtech during the third quarter valued at about $232,000. Finally, Hanseatic Management Services Inc. increased its holdings in shares of Semtech by 14,009.1% during the third quarter. Hanseatic Management Services Inc. now owns 6,208 shares of the semiconductor company’s stock valued at $233,000 after acquiring an additional 6,164 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Traders Purchase High Volume of Semtech Put Options (SMTC)” was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://stocknewstimes.com/2018/02/23/traders-purchase-high-volume-of-semtech-put-options-smtc.html.

About Semtech

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.

Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply