Semtech Co. (NASDAQ:SMTC) COO Asaf Silberstein Sells 2,000 Shares

Semtech Co. (NASDAQ:SMTC) COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the transaction, the chief operating officer now directly owns 76,417 shares in the company, valued at $5,349,190. This represents a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Semtech Price Performance

SMTC opened at $75.00 on Monday. Semtech Co. has a fifty-two week low of $18.72 and a fifty-two week high of $75.75. The company’s 50 day moving average price is $61.68 and its two-hundred day moving average price is $47.27. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of -5.75 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. Semtech’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share.

Hedge Funds Weigh In On Semtech

A number of hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC increased its position in Semtech by 6.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock valued at $515,000 after purchasing an additional 673 shares during the period. Moody National Bank Trust Division increased its position in shares of Semtech by 148.6% during the fourth quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock worth $1,272,000 after buying an additional 12,296 shares during the period. Intech Investment Management LLC increased its position in shares of Semtech by 128.3% during the third quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock worth $1,394,000 after buying an additional 17,150 shares during the period. Natixis Advisors LLC raised its stake in Semtech by 100.2% during the third quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company’s stock worth $1,626,000 after buying an additional 17,823 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Semtech by 135.9% in the third quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock valued at $1,943,000 after buying an additional 24,517 shares during the period.

Analysts Set New Price Targets

SMTC has been the subject of several analyst reports. Northland Securities boosted their target price on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. UBS Group assumed coverage on Semtech in a report on Friday. They issued a “buy” rating and a $85.00 target price on the stock. Craig Hallum lifted their price target on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Roth Mkm raised their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, B. Riley boosted their target price on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.09.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial 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.