Insider Selling: Semtech Co. (NASDAQ:SMTC) SVP Sells 1,338 Shares of Stock

Semtech Co. (NASDAQ:SMTCGet Free Report) SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 14 shares of the company’s stock, valued at $1,050. This represents a 98.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Imran Sherazi also recently made the following trade(s):

  • On Thursday, December 19th, Imran Sherazi sold 2,946 shares of Semtech stock. The shares were sold at an average price of $63.30, for a total value of $186,481.80.

Semtech Stock Down 1.5 %

Shares of SMTC stock opened at $76.00 on Thursday. The stock has a 50-day simple moving average of $63.27 and a 200 day simple moving average of $48.08. Semtech Co. has a fifty-two week low of $18.72 and a fifty-two week high of $79.52.

Semtech (NASDAQ:SMTCGet Free Report) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. During the same quarter last year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 17.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

SMTC has been the topic of a number of analyst reports. Benchmark increased their price objective on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Northland Securities lifted their price target on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Stifel Nicolaus boosted their price objective on Semtech from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Susquehanna raised their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Finally, Piper Sandler reiterated an “overweight” rating and set a $75.00 price target (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.09.

Get Our Latest Analysis on Semtech

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank boosted its stake in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 302 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Semtech by 15.3% during the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock worth $196,000 after purchasing an additional 421 shares during the period. Hanseatic Management Services Inc. lifted its holdings in shares of 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 purchasing an additional 447 shares during the last quarter. Creative Planning boosted its position in shares of Semtech by 3.4% in the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after purchasing an additional 588 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Semtech by 51.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 598 shares in the last quarter.

Semtech Company Profile

(Get Free Report)

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.

Further Reading

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