Semtech Co. (NASDAQ:SMTC) EVP Charles B. Ammann Sells 20,000 Shares

Semtech Co. (NASDAQ:SMTC) EVP Charles B. Ammann sold 20,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $48.52, for a total value of $970,400.00. Following the transaction, the executive vice president now directly owns 30,309 shares of the company’s stock, valued at $1,470,592.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

SMTC stock traded down $0.68 during trading on Friday, hitting $49.28. 329,618 shares of the company’s stock were exchanged, compared to its average volume of 550,646. 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 52-week low of $39.54 and a 52-week high of $60.55. The firm’s 50-day moving average price is $46.02. The firm has a market capitalization of $3.29 billion, a PE ratio of 37.05, a price-to-earnings-growth ratio of 3.57 and a beta of 1.88.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, May 29th. The semiconductor company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.16. Semtech had a return on equity of 14.05% and a net margin of 10.18%. The company had revenue of $131.40 million during the quarter, compared to analysts’ expectations of $130.40 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. On average, equities research analysts predict that Semtech Co. will post 1.15 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Semtech by 0.8% during the first quarter. BlackRock Inc. now owns 9,591,218 shares of the semiconductor company’s stock worth $488,289,000 after purchasing an additional 71,416 shares during the last quarter. Vanguard Group Inc grew its holdings in Semtech by 1.8% during the third quarter. Vanguard Group Inc now owns 6,807,219 shares of the semiconductor company’s stock worth $378,481,000 after acquiring an additional 122,945 shares during the period. FMR LLC grew its holdings in Semtech by 16.2% during the fourth quarter. FMR LLC now owns 4,114,152 shares of the semiconductor company’s stock worth $188,717,000 after acquiring an additional 573,087 shares during the period. Bank of New York Mellon Corp grew its holdings in Semtech by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 2,313,492 shares of the semiconductor company’s stock worth $106,120,000 after acquiring an additional 13,733 shares during the period. Finally, Rice Hall James & Associates LLC grew its holdings in Semtech by 2.7% during the first quarter. Rice Hall James & Associates LLC now owns 1,213,627 shares of the semiconductor company’s stock worth $61,786,000 after acquiring an additional 32,045 shares during the period. Institutional investors own 96.82% of the company’s stock.

A number of equities analysts have recently commented on the company. Wells Fargo & Co assumed coverage on Semtech in a research report on Tuesday, May 14th. They set an “outperform” rating and a $48.03 price objective for the company. Zacks Investment Research downgraded Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Oppenheimer decreased their target price on 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 set a $14.00 target price on Tilly’s and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Semtech presently has an average rating of “Buy” and a consensus target price of $55.00.

About Semtech

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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