Semtech Co. (NASDAQ:SMTC - Get Free Report) COO Asaf Silberstein sold 2,000 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,417 shares of the company's stock, valued at approximately $5,349,190. The trade was a 2.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Semtech stock traded up $6.07 during mid-day trading on Friday, hitting $75.00. 2,810,638 shares of the stock were exchanged, compared to its average volume of 1,844,980. The firm's fifty day simple moving average is $61.24 and its two-hundred day simple moving average is $46.76. Semtech Co. has a 12 month low of $18.72 and a 12 month high of $75.75. The stock 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 - Get Free Report) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same quarter in the prior year, the company earned $0.02 EPS. The firm's revenue for the quarter was up 17.9% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Disciplined Growth Investors Inc. MN boosted its position in shares of Semtech by 343.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company's stock worth $74,550,000 after purchasing an additional 1,932,116 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in Semtech during the 2nd quarter worth $43,395,000. Millennium Management LLC grew its position in Semtech by 26.6% in the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company's stock worth $108,956,000 after purchasing an additional 765,877 shares in the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Semtech during the third quarter valued at approximately $32,126,000. Finally, Clearline Capital LP raised its stake in shares of Semtech by 143.1% during the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company's stock worth $26,863,000 after purchasing an additional 529,194 shares during the period.
SMTC has been the subject of a number of analyst reports. Benchmark lifted their price target on shares of Semtech from $56.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. B. Riley upped their price objective on shares of Semtech from $61.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Susquehanna upped their target price on Semtech from $55.00 to $60.00 and gave the stock a "positive" rating in a research note on Thursday, November 21st. Piper Sandler reiterated an "overweight" rating and issued a $75.00 target price (up previously from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Finally, Craig Hallum raised their target price on shares of Semtech from $48.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Semtech has a consensus rating of "Moderate Buy" and an average price target of $71.09.
Get Our Latest Stock Analysis on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Semtech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Semtech wasn't on the list.
While Semtech currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.