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.
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.
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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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