Paul Walsh, Jr. Sells 500 Shares of Semtech (NASDAQ:SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) Director Paul Walsh, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total transaction of $69,105.00. Following the sale, the director owned 23,279 shares in the company, valued at approximately $3,217,390.59. The trade was a 2.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Price Performance

NASDAQ SMTC opened at $156.78 on Friday. Semtech Corporation has a 12 month low of $34.59 and a 12 month high of $164.48. The stock has a market cap of $14.60 billion, a price-to-earnings ratio of -356.32 and a beta of 2.22. The company’s 50 day moving average is $100.99 and its two-hundred day moving average is $86.11. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The company had revenue of $274.40 million for the quarter, compared to analysts’ expectations of $273.14 million. During the same quarter last year, the business earned $0.40 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts anticipate that Semtech Corporation will post 1.6 earnings per share for the current year.

Institutional Investors Weigh In On Semtech

Large investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise bought a new stake in Semtech in the first quarter worth $33,000. Hantz Financial Services Inc. increased its position in Semtech by 243.2% in the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 360 shares during the last quarter. AlphaQuest LLC increased its position in Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 173 shares during the last quarter. Jones Financial Companies Lllp increased its position in Semtech by 65.5% in the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 235 shares during the last quarter. Finally, Assetmark Inc. increased its position in Semtech by 1,745.5% in the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 576 shares during the last quarter.

Wall Street Analysts Forecast Growth

SMTC has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Semtech from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. UBS Group lifted their price objective on shares of Semtech from $105.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, May 18th. TD Cowen reiterated a “buy” rating on shares of Semtech in a research report on Tuesday, February 24th. Wall Street Zen cut shares of Semtech from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 26th. Finally, Oppenheimer lifted their price objective on shares of Semtech from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $113.50.

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.