Todays Report: The 6,795 Shares of Stock are sold by Semtech Corp. (SMTC) Director Rockell N. Hankin

The 6,795 Shares of Stock are sold by Semtech Corp. (SMTC) Director Rockell N. Hankin

Semtech Corp. (NASDAQ:SMTC) Director Rockell N. Hankin sold 6,795 shares of the stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $27.73, for a total transaction of $188,425.35. Following the transaction, the director now directly owns 166,735 shares in the company, valued at $4,623,561.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Semtech Corp. (NASDAQ:SMTC) opened at 25.48 on Thursday. The stock has a market cap of $1.67 billion, a P/E ratio of 60.52 and a beta of 1.37. Semtech Corp. has a one year low of $15.70 and a one year high of $28.20. The stock has a 50 day moving average of $27.09 and a 200 day moving average of $24.32.

Semtech Corp. (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, August 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. The company had revenue of $135.90 million for the quarter. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, analysts forecast that Semtech Corp. will post $1.34 EPS for the current year.

SMTC has been the topic of several research reports. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Semtech Corp. in a report on Monday, September 5th. MKM Partners restated a “hold” rating on shares of Semtech Corp. in a report on Thursday, June 23rd. Drexel Hamilton restated a “buy” rating and set a $32.00 price objective on shares of Semtech Corp. in a report on Saturday, October 8th. Zacks Investment Research downgraded shares of Semtech Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, B. Riley restated a “buy” rating and set a $37.00 price objective on shares of Semtech Corp. in a report on Tuesday. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $27.33.

A number of institutional investors have recently made changes to their positions in SMTC. Vanguard Group Inc. boosted its position in shares of Semtech Corp. by 4.4% in the second quarter. Vanguard Group Inc. now owns 5,235,323 shares of the company’s stock worth $124,915,000 after buying an additional 221,743 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Semtech Corp. by 2.6% in the second quarter. BlackRock Fund Advisors now owns 4,287,613 shares of the company’s stock worth $102,302,000 after buying an additional 108,453 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Semtech Corp. by 36.1% in the second quarter. Frontier Capital Management Co. LLC now owns 2,442,524 shares of the company’s stock worth $58,279,000 after buying an additional 648,271 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Semtech Corp. by 10.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,780,185 shares of the company’s stock worth $42,475,000 after buying an additional 169,956 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Semtech Corp. by 2.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,653,672 shares of the company’s stock worth $36,364,000 after buying an additional 42,426 shares during the last quarter. Institutional investors own 95.43% of the company’s stock.

About Semtech Corp.

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