Insider Selling: Semtech Co. (NASDAQ:SMTC) VP Sells 500 Shares of Stock

Semtech Co. (NASDAQ:SMTC) VP Alisair Fulton sold 500 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $52.78, for a total value of $26,390.00. Following the completion of the transaction, the vice president now owns 1,882 shares in the company, valued at $99,331.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

SMTC stock traded up $1.13 during midday trading on Friday, hitting $54.57. 249,241 shares of the company’s stock were exchanged, compared to its average volume of 674,513. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28. Semtech Co. has a 12-month low of $40.15 and a 12-month high of $60.55. The company has a market capitalization of $3.59 billion, a PE ratio of 41.03, a P/E/G ratio of 3.52 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, March 13th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $160.00 million for the quarter, compared to the consensus estimate of $158.48 million. Semtech had a return on equity of 13.94% and a net margin of 10.05%. Semtech’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. As a group, sell-side analysts anticipate that Semtech Co. will post 1.22 EPS for the current year.

SMTC has been the topic of several analyst reports. ValuEngine downgraded Semtech from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. BidaskClub upgraded Semtech from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. Zacks Investment Research downgraded Semtech from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 19th. B. Riley raised their target price on Semtech from $61.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Finally, Loop Capital upgraded Semtech to a “buy” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $59.00.

Several institutional investors and hedge funds have recently modified their holdings of SMTC. Oregon Public Employees Retirement Fund acquired a new position in shares of Semtech in the 4th quarter worth approximately $25,000. Norges Bank acquired a new position in shares of Semtech in the 4th quarter worth approximately $40,233,000. FMR LLC grew its position in shares of Semtech by 16.2% in the 4th quarter. FMR LLC now owns 4,114,152 shares of the semiconductor company’s stock worth $188,717,000 after acquiring an additional 573,087 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Semtech by 30.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,299,759 shares of the semiconductor company’s stock worth $127,868,000 after acquiring an additional 543,325 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Semtech by 150.3% in the 4th quarter. Millennium Management LLC now owns 509,803 shares of the semiconductor company’s stock worth $23,385,000 after acquiring an additional 306,116 shares in the last quarter. Institutional investors own 99.45% of the company’s stock.

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Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications 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.

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Insider Buying and Selling by Quarter for Semtech (NASDAQ:SMTC)

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