Insider Selling: Semtech Co. (NASDAQ:SMTC) COO Sells 2,000 Shares of Stock

Semtech Co. (NASDAQ:SMTC) COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Semtech Trading Up 8.8 %

NASDAQ SMTC opened at $75.00 on Friday. Semtech Co. has a 1-year low of $18.72 and a 1-year high of $75.75. The company has a 50 day moving average of $61.68 and a 200-day moving average of $47.07.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating 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 company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 EPS.

Institutional Investors Weigh In On Semtech

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mutual of America Capital Management LLC raised its position in shares of Semtech by 6.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock valued at $515,000 after buying an additional 673 shares in the last quarter. Moody National Bank Trust Division raised its position in Semtech by 148.6% during the fourth quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock valued at $1,272,000 after purchasing an additional 12,296 shares in the last quarter. Intech Investment Management LLC lifted its stake in Semtech by 128.3% during the third quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock worth $1,394,000 after purchasing an additional 17,150 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Semtech by 100.2% in the 3rd quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company’s stock valued at $1,626,000 after purchasing an additional 17,823 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Semtech by 135.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock worth $1,943,000 after buying an additional 24,517 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SMTC shares. Needham & Company LLC raised their price target on Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Craig Hallum raised their target price on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. UBS Group assumed coverage on shares of Semtech in a research note on Friday. They issued a “buy” rating and a $85.00 price target on the stock. Benchmark increased their price target on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler restated an “overweight” rating and set a $75.00 price objective (up previously from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average target price of $71.09.

About 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.