Insider Selling: Semtech Co. (NASDAQ:SMTC) CFO Sells 22,000 Shares of Stock

Semtech Co. (NASDAQ:SMTC) CFO Emeka Chukwu sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $45.51, for a total value of $1,001,220.00. Following the completion of the transaction, the chief financial officer now owns 105,886 shares of the company’s stock, valued at $4,818,871.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Emeka Chukwu also recently made the following trade(s):

  • On Monday, July 1st, Emeka Chukwu sold 1,100 shares of Semtech stock. The shares were sold at an average price of $50.56, for a total value of $55,616.00.
  • On Tuesday, April 30th, Emeka Chukwu sold 1,100 shares of Semtech stock. The shares were sold at an average price of $53.86, for a total value of $59,246.00.
  • On Monday, April 1st, Emeka Chukwu sold 1,100 shares of Semtech stock. The stock was sold at an average price of $52.00, for a total value of $57,200.00.

Shares of NASDAQ:SMTC traded up $0.68 during trading on Thursday, hitting $49.96. The stock had a trading volume of 213,873 shares, compared to its average volume of 634,620. Semtech Co. has a 12-month low of $39.54 and a 12-month high of $60.55. The firm has a market capitalization of $3.32 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 3.58 and a beta of 1.88. The company has a quick ratio of 3.71, a current ratio of 4.42 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average price is $45.73.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, May 29th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.16. The firm had revenue of $131.40 million during the quarter, compared to analysts’ expectations of $130.40 million. Semtech had a return on equity of 14.05% and a net margin of 10.18%. The company’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. Equities research analysts anticipate that Semtech Co. will post 1.15 earnings per share for the current year.

SMTC has been the topic of a number of recent research reports. Oppenheimer dropped their price target on Semtech from $60.00 to $52.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Co initiated coverage on Semtech in a research report on Tuesday, May 14th. They set an “outperform” rating and a $48.03 price target on the stock. Cowen began coverage on Littelfuse in a research report on Tuesday, May 21st. They set an “outperform” rating and a $210.00 price target on the stock. B. Riley set a $14.00 price objective on Tilly’s and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Zacks Investment Research downgraded Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $55.00.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Semtech by 0.8% in the first quarter. BlackRock Inc. now owns 9,591,218 shares of the semiconductor company’s stock valued at $488,289,000 after purchasing an additional 71,416 shares during the period. Vanguard Group Inc raised its position in Semtech by 1.8% in the third quarter. Vanguard Group Inc now owns 6,807,219 shares of the semiconductor company’s stock valued at $378,481,000 after purchasing an additional 122,945 shares during the period. FMR LLC raised its position in Semtech by 16.2% in the fourth quarter. FMR LLC now owns 4,114,152 shares of the semiconductor company’s stock valued at $188,717,000 after purchasing an additional 573,087 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Semtech by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 2,313,492 shares of the semiconductor company’s stock valued at $106,120,000 after buying an additional 13,733 shares during the period. Finally, Rice Hall James & Associates LLC raised its holdings in shares of Semtech by 2.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,213,627 shares of the semiconductor company’s stock valued at $61,786,000 after buying an additional 32,045 shares during the period. Institutional investors and hedge funds own 96.82% of the company’s stock.

About Semtech

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, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

Further Reading: Earnings Per Share (EPS)

Insider Buying and Selling by Quarter for Semtech (NASDAQ:SMTC)

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