Mark C. Costello Sells 12,046 Shares of Semtech Co. (NASDAQ:SMTC) Stock

Semtech Co. (NASDAQ:SMTC) VP Mark C. Costello sold 12,046 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $45.46, for a total transaction of $547,611.16. Following the transaction, the vice president now owns 12,041 shares in the company, valued at approximately $547,383.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of SMTC stock opened at $46.32 on Friday. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 3.33 and a beta of 1.81. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.42 and a quick ratio of 3.71. Semtech Co. has a 12 month low of $39.54 and a 12 month high of $60.55.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, May 29th. The semiconductor company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.16. The business had revenue of $131.40 million during the quarter, compared to analyst estimates of $130.40 million. Semtech had a net margin of 10.18% and a return on equity of 14.05%. Semtech’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 EPS. Analysts forecast that Semtech Co. will post 1.15 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of SMTC. Pearl River Capital LLC bought a new stake in shares of Semtech in the 4th quarter worth $25,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Semtech in the 4th quarter worth $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of Semtech in the 1st quarter worth $27,000. Enlightenment Research LLC bought a new stake in shares of Semtech in the 4th quarter worth $28,000. Finally, Cornerstone Advisors Inc. grew its stake in shares of Semtech by 3,725.0% in the 1st quarter. Cornerstone Advisors Inc. now owns 612 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 596 shares in the last quarter. Hedge funds and other institutional investors own 96.44% of the company’s stock.

A number of brokerages have commented on SMTC. BidaskClub upgraded shares of Semtech from a “strong sell” rating to a “sell” rating in a research note on Friday. ValuEngine lowered shares of Semtech from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Oppenheimer decreased their price target on shares of Semtech from $60.00 to $52.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. B. Riley decreased their price target on shares of Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, Cowen began coverage on shares of Semtech in a research note on Tuesday, May 21st. They set an “outperform” rating and a $56.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $55.00.

Semtech Company Profile

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

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