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

Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, 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 document filed with the SEC, which is available through the SEC website.

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

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

Semtech Stock Performance

NASDAQ SMTC opened at $75.91 on Friday. The business has a fifty day moving average price of $63.84 and a 200 day moving average price of $48.27. Semtech Co. has a one year low of $18.72 and a one year high of $79.52. The company has a market cap of $5.74 billion, a P/E ratio of -5.82 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data 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 firm had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same period in the prior year, the company earned $0.02 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year.

Institutional Trading of Semtech

A number of hedge funds and other institutional investors have recently modified their holdings of SMTC. State of New Jersey Common Pension Fund D acquired a new stake in shares of Semtech in the 2nd quarter worth $1,369,000. Intech Investment Management LLC acquired a new stake in shares of Semtech in the 2nd quarter worth $400,000. Canada Pension Plan Investment Board acquired a new stake in shares of Semtech in the 2nd quarter worth $60,000. Public Sector Pension Investment Board increased its stake in shares of Semtech by 7.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 142,060 shares of the semiconductor company’s stock worth $4,245,000 after acquiring an additional 10,290 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new stake in shares of Semtech in the 2nd quarter worth $14,307,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SMTC. B. Riley boosted their price objective on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Benchmark boosted their price objective on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus boosted their price objective on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Northland Securities boosted their price objective on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Roth Mkm boosted their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.