Emeka Chukwu Sells 2,000 Shares of Semtech Corporation (SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) CFO Emeka Chukwu sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $40.67, for a total transaction of $81,340.00. Following the completion of the transaction, the chief financial officer now directly owns 73,776 shares of the company’s stock, valued at approximately $3,000,469.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Emeka Chukwu also recently made the following trade(s):

  • On Monday, October 2nd, Emeka Chukwu sold 2,000 shares of Semtech Corporation stock. The stock was sold at an average price of $37.72, for a total transaction of $75,440.00.
  • On Friday, September 1st, Emeka Chukwu sold 2,000 shares of Semtech Corporation stock. The stock was sold at an average price of $37.56, for a total transaction of $75,120.00.

Shares of Semtech Corporation (NASDAQ:SMTC) opened at $38.25 on Friday. The company has a market capitalization of $2,621.47, a P/E ratio of 36.00, a price-to-earnings-growth ratio of 6.44 and a beta of 1.48. The company has a current ratio of 3.42, a quick ratio of 2.83 and a debt-to-equity ratio of 0.34.

Semtech Corporation (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $154.91 million. Semtech Corporation had a net margin of 11.00% and a return on equity of 11.77%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. analysts expect that Semtech Corporation will post 1.23 earnings per share for the current year.

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Several research analysts recently weighed in on SMTC shares. B. Riley reaffirmed a “buy” rating and issued a $48.00 target price on shares of Semtech Corporation in a report on Sunday, September 3rd. Drexel Hamilton reaffirmed a “buy” rating and issued a $45.00 target price on shares of Semtech Corporation in a report on Thursday, August 31st. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $42.00 target price on shares of Semtech Corporation in a report on Sunday, August 27th. BidaskClub downgraded shares of Semtech Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Finally, Zacks Investment Research raised shares of Semtech Corporation from a “sell” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $43.50.

A number of hedge funds have recently made changes to their positions in SMTC. Strs Ohio lifted its stake in Semtech Corporation by 22.2% in the 2nd quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Semtech Corporation by 2.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 65 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Semtech Corporation in the 1st quarter worth $137,000. Oppenheimer Asset Management Inc. purchased a new stake in Semtech Corporation in the 1st quarter worth $144,000. Finally, Riverhead Capital Management LLC lifted its stake in Semtech Corporation by 65.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,130 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 2,030 shares in the last quarter. Institutional investors and hedge funds own 94.37% of the company’s stock.

About Semtech Corporation

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.

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