Semtech (NASDAQ:SMTC) Director Paul Walsh, Jr. Sells 500 Shares

Semtech Corporation (NASDAQ:SMTC) Director Paul Walsh, Jr. sold 500 shares of Semtech stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $80.87, for a total value of $40,435.00. Following the sale, the director owned 24,279 shares of the company’s stock, valued at approximately $1,963,442.73. This represents a 2.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Semtech Trading Down 6.1%

Shares of Semtech stock traded down $4.75 during trading hours on Friday, reaching $73.60. 5,439,987 shares of the company’s stock were exchanged, compared to its average volume of 2,003,295. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of -167.27 and a beta of 1.99. The company has a current ratio of 2.37, a quick ratio of 1.71 and a debt-to-equity ratio of 0.89. Semtech Corporation has a 52-week low of $24.05 and a 52-week high of $96.46. The company has a fifty day moving average of $84.00 and a 200-day moving average of $74.36.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $274.40 million for the quarter, compared to the consensus estimate of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. Sell-side analysts forecast that Semtech Corporation will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Semtech by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock valued at $873,842,000 after buying an additional 298,987 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Semtech by 3.7% during the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock worth $526,861,000 after buying an additional 261,647 shares in the last quarter. Capital Research Global Investors grew its position in shares of Semtech by 13.9% during the third quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock worth $335,220,000 after buying an additional 571,372 shares in the last quarter. State Street Corp increased its stake in shares of Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after buying an additional 60,788 shares during the last quarter. Finally, Whale Rock Capital Management LLC raised its holdings in Semtech by 11.3% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock valued at $287,499,000 after acquiring an additional 396,504 shares in the last quarter.

Wall Street Analyst Weigh In

SMTC has been the subject of several research reports. B. Riley Financial boosted their price objective on shares of Semtech from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Piper Sandler reissued an “overweight” rating and set a $95.00 price target (up from $70.00) on shares of Semtech in a research report on Thursday, December 11th. Roth Mkm upped their price target on Semtech from $65.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Craig Hallum raised their price objective on Semtech from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Morgan Stanley lifted their price objective on Semtech from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $93.14.

About Semtech

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.