Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi Sells 1,338 Shares

Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi sold 1,338 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the sale, the senior vice president now directly owns 14 shares of the company’s stock, valued at $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Imran Sherazi also recently made the following trade(s):

• On Thursday, December 19th, Imran Sherazi sold 2,946 shares of Semtech stock. The stock was sold at an average price of $63.30, for a total value of $186,481.80.

Semtech Stock Performance

Shares of SMTC opened at $75.91 on Friday. The stock has a 50-day simple moving average of $63.84 and a 200-day simple moving average of $48.27. The stock has a market capitalization of $5.74 billion, a PE ratio of -5.82 and a beta of 1.65. Semtech Co. has a 1 year low of $18.72 and a 1 year high of $79.52.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Craig Hallum raised their price objective on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. B. Riley raised their target price on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Northland Securities raised their target price on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Susquehanna raised their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Finally, UBS Group started coverage on Semtech in a report on Friday, January 17th. They set a “buy” rating and a $85.00 target price for the company. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Semtech has an average rating of “Moderate Buy” and a consensus target price of $71.09.

Institutional Investors Weigh In On Semtech

Institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank lifted its stake in Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Semtech during the second quarter worth approximately $60,000. NBC Securities Inc. lifted its stake in Semtech by 115.8% during the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 739 shares during the last quarter. Quarry LP purchased a new stake in Semtech during the second quarter worth approximately $63,000. Finally, International Assets Investment Management LLC lifted its stake in Semtech by 4,464.9% during the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 1,652 shares during the last quarter.

Semtech Company Profile

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.