Semtech Corp. (SMTC) Sees Strong Trading Volume
Semtech Corp. (NASDAQ:SMTC) saw strong trading volume on Tuesday . 344,194 shares were traded during mid-day trading, an increase of 6% from the previous session’s volume of 323,825 shares.The stock last traded at $26.28 and had previously closed at $26.16.
Several equities research analysts have recently commented on the company. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Semtech Corp. in a research note on Thursday, June 2nd. B. Riley restated a “buy” rating and issued a $31.50 price objective on shares of Semtech Corp. in a research note on Thursday, June 2nd. Zacks Investment Research lowered Semtech Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Royal Bank Of Canada upped their price objective on Semtech Corp. from $22.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 2nd. Finally, Drexel Hamilton restated a “buy” rating and issued a $29.00 price objective on shares of Semtech Corp. in a research note on Thursday, June 23rd. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Semtech Corp. presently has a consensus rating of “Buy” and an average target price of $25.92.
The firm has a market capitalization of $1.71 billion and a price-to-earnings ratio of 92.79. The stock has a 50 day moving average price of $25.23 and a 200 day moving average price of $22.80.
Semtech Corp. (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, June 1st. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The firm earned $131.10 million during the quarter. During the same period last year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts expect that Semtech Corp. will post $1.32 earnings per share for the current fiscal year.
In other Semtech Corp. news, insider Mohan Maheswaran sold 1,500 shares of Semtech Corp. stock in a transaction on Monday, August 15th. The shares were sold at an average price of $26.00, for a total value of $39,000.00. Following the completion of the transaction, the insider now owns 184,867 shares of the company’s stock, valued at $4,806,542. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark C. Costello sold 1,183 shares of Semtech Corp. stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $24.51, for a total transaction of $28,995.33. The disclosure for this sale can be found here.
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
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