Semtech (NASDAQ:SMTC) CEO Hong Hou Sells 2,000 Shares

Semtech Corporation (NASDAQ:SMTC) CEO Hong Hou sold 2,000 shares of Semtech stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $90.11, for a total transaction of $180,220.00. Following the completion of the sale, the chief executive officer owned 73,228 shares in the company, valued at approximately $6,598,575.08. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Trading Down 1.9%

Shares of NASDAQ:SMTC opened at $90.12 on Wednesday. The company has a market cap of $8.38 billion, a PE ratio of -204.82 and a beta of 2.06. The company’s 50-day moving average price is $84.45 and its 200 day moving average price is $76.99. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $96.46. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.89.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $274.40 million for the quarter, compared to the consensus estimate of $273.14 million. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. Semtech’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. Sell-side analysts anticipate that Semtech Corporation will post -0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SMTC. Stifel Nicolaus lifted their price objective on shares of Semtech from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Susquehanna lifted their price objective on shares of Semtech from $90.00 to $100.00 and gave the company a “positive” rating in a research report on Monday, March 9th. Benchmark lifted their price objective on shares of Semtech from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC boosted their price target on shares of Semtech from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings downgraded shares of Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, March 24th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Semtech has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

Hedge Funds Weigh In On Semtech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its stake in Semtech by 70.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,988 shares of the semiconductor company’s stock valued at $146,000 after purchasing an additional 823 shares in the last quarter. Corient Private Wealth LLC bought a new position in Semtech during the 4th quarter valued at $221,000. Alpine Global Management LLC bought a new position in Semtech during the 4th quarter valued at $368,000. Pacer Advisors Inc. boosted its stake in Semtech by 38.8% during the 4th quarter. Pacer Advisors Inc. now owns 16,129 shares of the semiconductor company’s stock valued at $1,189,000 after purchasing an additional 4,509 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Semtech by 23.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,987,888 shares of the semiconductor company’s stock worth $146,488,000 after purchasing an additional 374,548 shares during the last quarter.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.