Semtech Co. (SMTC) VP Sells $116,000.00 in Stock

Semtech Co. (NASDAQ:SMTC) VP Marc Pegulu sold 2,000 shares of Semtech stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $58.00, for a total value of $116,000.00. Following the completion of the transaction, the vice president now owns 16,068 shares in the company, valued at approximately $931,944. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Marc Pegulu also recently made the following trade(s):

  • On Friday, July 6th, Marc Pegulu sold 500 shares of Semtech stock. The stock was sold at an average price of $48.85, for a total value of $24,425.00.

NASDAQ:SMTC traded up $0.35 during mid-day trading on Wednesday, reaching $58.85. 536,300 shares of the company’s stock traded hands, compared to its average volume of 571,212. Semtech Co. has a 12-month low of $31.30 and a 12-month high of $60.05. The company has a market cap of $3.76 billion, a PE ratio of 42.07, a P/E/G ratio of 7.28 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.13 and a quick ratio of 3.62.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, August 29th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Semtech had a return on equity of 12.66% and a net margin of 8.48%. The company had revenue of $163.20 million for the quarter, compared to the consensus estimate of $161.21 million. During the same quarter in the previous year, the business earned $0.48 EPS. Semtech’s revenue was up 6.6% compared to the same quarter last year. analysts expect that Semtech Co. will post 1.56 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Semtech by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,756,434 shares of the semiconductor company’s stock valued at $82,640,000 after purchasing an additional 118,194 shares during the period. Verition Fund Management LLC increased its holdings in Semtech by 166.8% during the 2nd quarter. Verition Fund Management LLC now owns 14,680 shares of the semiconductor company’s stock valued at $691,000 after purchasing an additional 9,178 shares during the period. Castleark Management LLC purchased a new position in Semtech during the 2nd quarter valued at about $13,230,000. Cubist Systematic Strategies LLC increased its holdings in Semtech by 137.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 27,929 shares of the semiconductor company’s stock valued at $1,314,000 after purchasing an additional 16,182 shares during the period. Finally, Voya Investment Management LLC increased its holdings in Semtech by 1,173.5% during the 2nd quarter. Voya Investment Management LLC now owns 361,573 shares of the semiconductor company’s stock valued at $17,012,000 after purchasing an additional 333,180 shares during the period. Institutional investors own 96.54% of the company’s stock.

Several research firms have recently commented on SMTC. B. Riley lifted their price objective on Semtech from $57.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. BidaskClub downgraded Semtech from a “buy” rating to a “hold” rating in a report on Saturday, June 30th. Needham & Company LLC downgraded Semtech from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a report on Tuesday, September 4th. Stifel Nicolaus lifted their price objective on Semtech from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Finally, BWS Financial lifted their price objective on Semtech from $40.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $58.30.

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, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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