Insider Selling: Semtech (NASDAQ:SMTC) EVP Sells $612,975.00 in Stock

Semtech Corporation (NASDAQ:SMTC) EVP Jason Elliot Green sold 7,500 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $81.73, for a total transaction of $612,975.00. Following the completion of the transaction, the executive vice president owned 8,811 shares of the company’s stock, valued at $720,123.03. This trade represents a 45.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Semtech Stock Up 3.3%

Semtech stock traded up $2.61 during midday trading on Thursday, hitting $82.65. 2,069,972 shares of the stock were exchanged, compared to its average volume of 1,920,716. Semtech Corporation has a 1 year low of $24.05 and a 1 year high of $96.46. The firm has a market cap of $7.68 billion, a P/E ratio of -187.84 and a beta of 2.05. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.66. The company has a 50 day moving average price of $83.78 and a two-hundred day moving average price of $75.35.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $273.14 million. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. On average, sell-side analysts predict that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SMTC. Needham & Company LLC raised their price objective on Semtech from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Benchmark reaffirmed a “buy” rating and issued a $115.00 target price on shares of Semtech in a research report on Tuesday, March 17th. Weiss Ratings cut Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, March 24th. Oppenheimer raised their price target on shares of Semtech from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Finally, Stifel Nicolaus lifted their price target on shares of Semtech from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.14.

Hedge Funds Weigh In On Semtech

A number of hedge funds have recently bought and sold shares of SMTC. Evergreen Capital Management LLC raised its stake in Semtech by 2.3% during the fourth quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company’s stock valued at $438,000 after buying an additional 136 shares in the last quarter. Stephens Inc. AR lifted its holdings in Semtech by 3.3% during the 4th quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company’s stock worth $325,000 after buying an additional 142 shares during the last quarter. Journey Strategic Wealth LLC grew its position in shares of Semtech by 3.2% in the 3rd quarter. Journey Strategic Wealth LLC now owns 5,074 shares of the semiconductor company’s stock worth $363,000 after acquiring an additional 159 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Semtech by 0.8% in the 4th quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company’s stock valued at $1,422,000 after acquiring an additional 162 shares during the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 173 shares during the last quarter.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.