Stock Traders Buy High Volume of Put Options on Semtech (SMTC)
Semtech Co. (NASDAQ:SMTC) was the recipient of some unusual options trading activity on Thursday. Investors acquired 868 put options on the company. This represents an increase of approximately 1,073% compared to the average daily volume of 74 put options.
SMTC has been the subject of a number of recent research reports. B. Riley lifted their price target on shares of Semtech from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. BidaskClub upgraded shares of Semtech from a “hold” rating to a “buy” rating in a research report on Wednesday, February 27th. Roth Capital set a $62.00 price objective on shares of Semtech and gave the stock a “buy” rating in a research report on Thursday, November 29th. ValuEngine downgraded shares of Semtech from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Zacks Investment Research restated a “hold” rating on shares of Semtech in a research report on Thursday, November 15th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $59.00.
Shares of NASDAQ:SMTC opened at $51.98 on Friday. The company has a market cap of $3.63 billion, a PE ratio of 37.13, a P/E/G ratio of 2.44 and a beta of 1.67. The company has a quick ratio of 3.53, a current ratio of 4.03 and a debt-to-equity ratio of 0.28. Semtech has a twelve month low of $37.60 and a twelve month high of $60.55.
In related news, CFO Emeka Chukwu sold 1,100 shares of Semtech stock in a transaction that occurred on Friday, January 11th. The shares were sold at an average price of $51.00, for a total value of $56,100.00. Following the completion of the transaction, the chief financial officer now owns 86,030 shares in the company, valued at $4,387,530. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sharon K. Faltemier sold 20,000 shares of Semtech stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $45.53, for a total transaction of $910,600.00. Following the completion of the transaction, the senior vice president now owns 33,386 shares of the company’s stock, valued at approximately $1,520,064.58. The disclosure for this sale can be found here. Insiders sold 52,300 shares of company stock valued at $2,516,512 in the last 90 days. Company insiders own 2.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Semtech by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 744,663 shares of the semiconductor company’s stock worth $34,157,000 after buying an additional 53,186 shares in the last quarter. Norges Bank purchased a new stake in shares of Semtech in the 4th quarter worth about $40,233,000. FMR LLC boosted 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 buying an additional 573,087 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Semtech by 15.4% in the 4th quarter. Nordea Investment Management AB now owns 85,932 shares of the semiconductor company’s stock worth $3,942,000 after buying an additional 11,489 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Semtech by 107.5% in the 4th quarter. Amalgamated Bank now owns 10,145 shares of the semiconductor company’s stock worth $465,000 after buying an additional 5,256 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors.
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, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.
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