Insider Selling: Semtech (NASDAQ:SMTC) Director Sells 500 Shares of Stock

Semtech Corporation (NASDAQ:SMTC) Director Paul Walsh, Jr. sold 500 shares of Semtech stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $138.21, for a total value of $69,105.00. Following the sale, the director owned 23,279 shares of the company’s stock, valued at approximately $3,217,390.59. This trade represents a 2.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Price Performance

Shares of NASDAQ SMTC traded up $10.25 during trading hours on Friday, reaching $156.78. 6,403,278 shares of the stock traded hands, compared to its average volume of 2,193,236. The company has a market capitalization of $14.60 billion, a P/E ratio of -356.32 and a beta of 2.22. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.89. Semtech Corporation has a 52-week low of $34.59 and a 52-week high of $164.33. The company’s 50-day simple moving average is $99.57 and its two-hundred day simple moving average is $85.62.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The business had revenue of $274.40 million for the quarter, compared to analysts’ expectations of $273.14 million. During the same period in the previous year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that Semtech Corporation will post 1.6 EPS for the current year.

Institutional Trading of Semtech

Several institutional investors have recently made changes to their positions in SMTC. Banque Cantonale Vaudoise purchased a new stake in shares of Semtech during the first quarter worth about $33,000. Hantz Financial Services Inc. boosted its stake in Semtech by 243.2% during the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 360 shares during the last quarter. AlphaQuest LLC boosted its stake in Semtech by 42.5% during the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 173 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Semtech by 65.5% during the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 235 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in Semtech by 1,745.5% during the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 576 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SMTC shares. Stifel Nicolaus set a $157.00 target price on Semtech in a report on Thursday. Benchmark upped their price objective on Semtech from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Susquehanna upped their price objective on Semtech from $110.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday. B. Riley Financial restated a “buy” rating on shares of Semtech in a research report on Tuesday, May 12th. Finally, TD Cowen restated a “buy” rating on shares of Semtech in a research report on Tuesday, February 24th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.50.

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.