Sharon K. Faltemier Sells 6,000 Shares of Semtech Co. (NASDAQ:SMTC) Stock

Semtech Co. (NASDAQ:SMTC) SVP Sharon K. Faltemier sold 6,000 shares of Semtech stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $53.20, for a total value of $319,200.00. Following the completion of the transaction, the senior vice president now owns 27,276 shares of the company’s stock, valued at $1,451,083.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of SMTC stock traded up $1.10 on Thursday, hitting $54.42. 1,888 shares of the company’s stock traded hands, compared to its average volume of 366,499. The company’s fifty day simple moving average is $50.54 and its 200 day simple moving average is $49.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.66 and a current ratio of 4.35. Semtech Co. has a one year low of $39.54 and a one year high of $57.96. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 40.97, a P/E/G ratio of 4.62 and a beta of 1.93.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, December 4th. The semiconductor company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Semtech had a return on equity of 10.64% and a net margin of 8.71%. The company had revenue of $141.00 million during the quarter, compared to analyst estimates of $140.15 million. During the same quarter in the previous year, the company posted $0.63 EPS. Semtech’s revenue for the quarter was down 18.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Semtech Co. will post 0.97 earnings per share for the current fiscal year.

Several equities analysts recently commented on SMTC shares. Piper Jaffray Companies boosted their target price on Semtech from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Oppenheimer reissued a “buy” rating and set a $52.00 price objective on shares of Semtech in a report on Wednesday, November 27th. Craig Hallum lowered their target price on shares of Semtech from $9.00 to $6.00 in a research note on Monday, September 23rd. BWS Financial lowered shares of Semtech from a “buy” rating to a “hold” rating and dropped their target price for the company from $70.00 to $50.00 in a research report on Friday, November 15th. Finally, BidaskClub raised shares of Semtech from a “sell” rating to a “hold” rating in a report on Friday, December 27th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.09.

Several institutional investors and hedge funds have recently made changes to their positions in SMTC. Evoke Wealth LLC purchased a new stake in shares of Semtech in the third quarter worth $27,000. Point72 Hong Kong Ltd grew its stake in shares of Semtech by 28.1% in the second quarter. Point72 Hong Kong Ltd now owns 1,450 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 318 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Semtech in the second quarter worth approximately $86,000. Marshall Wace LLP purchased a new position in shares of Semtech during the second quarter valued at approximately $203,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Semtech by 8.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,346 shares of the semiconductor company’s stock valued at $211,000 after purchasing an additional 347 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Semtech Company Profile

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.

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