Semtech Co. (NASDAQ:SMTC) COO Asaf Silberstein Sells 2,000 Shares

Semtech Co. (NASDAQ:SMTC) COO Asaf Silberstein sold 2,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the chief operating officer now owns 76,417 shares in the company, valued at approximately $5,349,190. This trade represents a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Semtech Stock Up 8.8 %

Shares of SMTC opened at $75.00 on Friday. Semtech Co. has a twelve month low of $18.72 and a twelve month 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 released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same quarter last year, the firm earned $0.02 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year.

Hedge Funds Weigh In On Semtech

Several hedge funds have recently modified their holdings of the stock. Huntington National Bank boosted its position in Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Semtech by 15.3% during the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock worth $196,000 after purchasing an additional 421 shares in the last quarter. Hanseatic Management Services Inc. grew its stake in shares of Semtech by 3.2% in the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after buying an additional 447 shares in the last quarter. Creative Planning increased its holdings in Semtech by 3.4% during the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after buying an additional 588 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in Semtech by 6.3% during the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after buying an additional 673 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on SMTC. Susquehanna upped their price objective on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Piper Sandler restated an “overweight” rating and issued a $75.00 price target (up from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Roth Mkm lifted their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. UBS Group began coverage on Semtech in a research note on Friday. They set a “buy” rating and a $85.00 target price for the company. Finally, Benchmark lifted their price target on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.09.

Semtech Company Profile

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.