Semtech Corp. (NASDAQ:SMTC) SVP Sameer Vuyyuru sold 5,930 shares of the stock on the open market in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $30.18, for a total value of $178,967.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
SMTC has been the subject of a number of recent research reports. Analysts at Sterne Agee cut their price target on shares of Semtech Corp. from $46.00 to $40.00 in a research note to investors on Friday, August 23rd. They now have a “buy” rating on the stock. Separately, analysts at Raymond James cut their price target on shares of Semtech Corp. from $38.00 to $36.00 in a research note to investors on Thursday, August 22nd. They now have a “strong-buy” rating on the stock. Finally, analysts at Oppenheimer cut their price target on shares of Semtech Corp. from $43.00 to $34.00 in a research note to investors on Thursday, August 22nd. They now have an “outperform” rating on the stock.
One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Semtech Corp. currently has an average rating of “Buy” and an average target price of $37.73.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 30.04 on Thursday. Semtech Corp. has a 52 week low of $22.95 and a 52 week high of $37.45. The stock’s 50-day moving average is $31.45 and its 200-day moving average is $33.29. The company has a market cap of $2.031 billion and a price-to-earnings ratio of 32.34.
Semtech Corp. (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.01. The company had revenue of $165.00 million for the quarter, compared to the consensus estimate of $165.02 million. During the same quarter last year, the company posted $0.41 earnings per share. Semtech Corp.’s revenue was up 9.5% compared to the same quarter last year. Analysts expect that Semtech Corp. will post $1.77 EPS for the current fiscal year.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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