Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi Sells 1,338 Shares

Semtech Co. (NASDAQ:SMTC) SVP Imran Sherazi sold 1,338 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the sale, the senior vice president now directly owns 14 shares of the company’s stock, valued at approximately $1,050. This trade represents a 98.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Imran Sherazi also recently made the following trade(s):

• On Thursday, December 19th, Imran Sherazi sold 2,946 shares of Semtech stock. The stock was sold at an average price of $63.30, for a total value of $186,481.80.

Semtech Stock Down 1.5 %

Shares of SMTC opened at $76.00 on Thursday. The business’s 50 day moving average is $63.27 and its two-hundred day moving average is $48.08. Semtech Co. has a 52-week low of $18.72 and a 52-week high of $79.52.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS.

Institutional Trading of Semtech

Several institutional investors and hedge funds have recently bought and sold shares of SMTC. Millennium Management LLC increased its holdings in shares of Semtech by 26.6% in the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after acquiring an additional 765,877 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Semtech by 4.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after purchasing an additional 114,999 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Semtech by 8.0% during the third quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after purchasing an additional 119,572 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Semtech during the second quarter worth $43,395,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Semtech by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock worth $48,303,000 after buying an additional 100,410 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SMTC. Stifel Nicolaus lifted their price target on shares of Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 6th. B. Riley upped their price target on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler reissued an “overweight” rating and issued a $75.00 price objective (up from $60.00) on shares of Semtech in a research report on Tuesday, November 26th. Craig Hallum boosted their price objective on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Susquehanna increased their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.09.

About Semtech

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.