Alisair Fulton Sells 500 Shares of Semtech Co. (SMTC) Stock

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Semtech Co. (NASDAQ:SMTC) VP Alisair Fulton sold 500 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $52.78, for a total value of $26,390.00. Following the sale, the vice president now directly owns 1,882 shares in the company, valued at approximately $99,331.96. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of NASDAQ:SMTC traded up $0.32 on Thursday, hitting $52.70. The company’s stock had a trading volume of 762,500 shares, compared to its average volume of 740,177. Semtech Co. has a 1 year low of $38.95 and a 1 year high of $60.55. The stock has a market cap of $3.42 billion, a P/E ratio of 39.62, a PEG ratio of 3.36 and a beta of 1.66. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, March 13th. The semiconductor company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. Semtech had a return on equity of 13.94% and a net margin of 10.05%. The firm had revenue of $160.00 million for the quarter, compared to analysts’ expectations of $158.48 million. During the same quarter last year, the firm posted $0.42 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts expect that Semtech Co. will post 1.22 EPS for the current fiscal year.

SMTC has been the topic of a number of recent research reports. Zacks Investment Research raised Semtech from a “sell” rating to a “hold” rating in a report on Friday, February 1st. B. Riley dropped their price objective on Semtech from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. ValuEngine raised Semtech from a “buy” rating to a “strong-buy” rating in a report on Friday, February 22nd. BidaskClub raised Semtech from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. Finally, Roth Capital cut Semtech from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Semtech presently has an average rating of “Buy” and a consensus target price of $59.00.

Several institutional investors have recently made changes to their positions in SMTC. JPMorgan Chase & Co. increased its position in shares of Semtech by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,824 shares of the semiconductor company’s stock valued at $3,604,000 after purchasing an additional 9,237 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Semtech by 30.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,299,759 shares of the semiconductor company’s stock valued at $127,868,000 after purchasing an additional 543,325 shares during the last quarter. Martingale Asset Management L P increased its position in shares of Semtech by 226.1% during the 3rd quarter. Martingale Asset Management L P now owns 24,813 shares of the semiconductor company’s stock valued at $1,380,000 after purchasing an additional 17,205 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Semtech by 29.1% during the 3rd quarter. Riverhead Capital Management LLC now owns 9,323 shares of the semiconductor company’s stock valued at $518,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Semtech by 11.2% during the 3rd quarter. Renaissance Technologies LLC now owns 701,416 shares of the semiconductor company’s stock valued at $38,999,000 after purchasing an additional 70,695 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

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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, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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