Semtech Co. (NASDAQ:SMTC) VP Alisair Fulton Sells 1,350 Shares

Semtech Co. (NASDAQ:SMTC) VP Alisair Fulton sold 1,350 shares of Semtech stock in a transaction dated Wednesday, October 13th. The stock was sold at an average price of $75.61, for a total value of $102,073.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of NASDAQ:SMTC traded down $1.01 during midday trading on Wednesday, reaching $74.76. The company had a trading volume of 395,864 shares, compared to its average volume of 392,284. The company has a quick ratio of 3.28, a current ratio of 4.17 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average price is $72.73 and its 200 day moving average price is $67.98. The stock has a market cap of $4.81 billion, a PE ratio of 54.17, a P/E/G ratio of 3.22 and a beta of 1.65. Semtech Co. has a 1-year low of $52.23 and a 1-year high of $83.94.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, August 31st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $185.00 million for the quarter, compared to the consensus estimate of $182.89 million. Semtech had a return on equity of 14.21% and a net margin of 13.44%. Semtech’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, research analysts expect that Semtech Co. will post 1.84 earnings per share for the current fiscal year.

Several research firms have weighed in on SMTC. B. Riley reiterated a “buy” rating and set a $97.00 target price (up from $95.00) on shares of Semtech in a report on Thursday, September 2nd. TheStreet raised Semtech from a “c+” rating to a “b-” rating in a research note on Friday, June 25th. Needham & Company LLC lifted their price target on Semtech from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, September 2nd. Piper Sandler reissued a “buy” rating and issued a $84.00 price target on shares of Semtech in a research note on Tuesday, June 29th. Finally, Cowen lifted their price target on Semtech from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, August 23rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $79.55.

A number of hedge funds and other institutional investors have recently made changes to their positions in SMTC. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Semtech during the second quarter worth approximately $40,000. Ameritas Investment Company LLC acquired a new position in Semtech during the first quarter worth approximately $51,000. FORA Capital LLC acquired a new position in Semtech during the second quarter worth approximately $120,000. Dark Forest Capital Management LP acquired a new position in Semtech during the second quarter worth approximately $142,000. Finally, Mackenzie Financial Corp acquired a new position in Semtech during the second quarter worth approximately $203,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Semtech Company Profile

Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.

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