Charles B. Ammann Sells 2,250 Shares of Semtech Corporation (SMTC) Stock
Semtech Corporation (NASDAQ:SMTC) EVP Charles B. Ammann sold 2,250 shares of Semtech Corporation stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $37.72, for a total value of $84,870.00. Following the sale, the executive vice president now directly owns 14,905 shares of the company’s stock, valued at approximately $562,216.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Semtech Corporation (NASDAQ:SMTC) opened at 37.85 on Thursday. The stock has a market capitalization of $2.51 billion, a PE ratio of 40.01 and a beta of 1.45. Semtech Corporation has a 12 month low of $22.81 and a 12 month high of $41.15. The company’s 50 day moving average price is $36.62 and its 200 day moving average price is $36.05.
Semtech Corporation (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The firm had revenue of $153.10 million during the quarter, compared to the consensus estimate of $154.91 million. During the same period last year, the business posted $0.35 EPS. Semtech Corporation’s quarterly revenue was up 12.7% on a year-over-year basis. Equities analysts anticipate that Semtech Corporation will post $1.89 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its stake in Semtech Corporation by 49.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 167,926 shares of the semiconductor company’s stock valued at $6,003,000 after purchasing an additional 55,714 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Semtech Corporation in the 2nd quarter valued at approximately $508,000. Sterling Capital Management LLC purchased a new position in Semtech Corporation in the 2nd quarter valued at approximately $1,457,000. CS Mckee LP increased its stake in Semtech Corporation by 0.3% in the 2nd quarter. CS Mckee LP now owns 58,500 shares of the semiconductor company’s stock valued at $2,091,000 after purchasing an additional 200 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Semtech Corporation by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock valued at $1,781,000 after purchasing an additional 186 shares in the last quarter. 94.42% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently commented on SMTC. B. Riley began coverage on Semtech Corporation in a report on Thursday. They set a “buy” rating and a $48.00 target price for the company. Zacks Investment Research cut Semtech Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Royal Bank Of Canada reiterated a “hold” rating and set a $39.00 price target on shares of Semtech Corporation in a research report on Thursday, July 6th. BidaskClub cut Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $45.00 price target on shares of Semtech Corporation in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Semtech Corporation presently has a consensus rating of “Buy” and a consensus price target of $43.50.
About Semtech Corporation
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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