Semtech Co. (NASDAQ:SMTC) CFO Acquires $33,230.00 in Stock

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was bought at an average cost of $33.23 per share, for a total transaction of $33,230.00. Following the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at approximately $33,230. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Semtech Stock Up 4.1 %

Shares of Semtech stock traded up $1.32 during midday trading on Monday, hitting $33.86. The company’s stock had a trading volume of 5,828,240 shares, compared to its average volume of 1,709,343. The firm has a market capitalization of $2.19 billion, a P/E ratio of -2.04 and a beta of 1.85. The stock has a 50-day simple moving average of $22.69 and a 200-day simple moving average of $20.65. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 4.11. Semtech Co. has a 1-year low of $13.13 and a 1-year high of $35.80.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SMTC. Stifel Nicolaus raised their price target on Semtech from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Needham & Company LLC raised their target price on Semtech from $26.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Craig Hallum raised their target price on Semtech from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Susquehanna raised their target price on Semtech from $30.00 to $45.00 and gave the company a “positive” rating in a research report on Monday, April 1st. Finally, Oppenheimer restated a “market perform” rating on shares of Semtech in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.35.

Institutional Trading of Semtech

A number of institutional investors have recently bought and sold shares of the company. Ethic Inc. increased its stake in shares of Semtech by 7.6% in the first quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock worth $315,000 after purchasing an additional 320 shares during the period. Zebra Capital Management LLC increased its stake in shares of Semtech by 10.5% in the first quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 327 shares during the period. Credit Suisse AG increased its stake in shares of Semtech by 0.6% in the fourth quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company’s stock worth $1,773,000 after purchasing an additional 347 shares during the period. Bridgefront Capital LLC increased its stake in shares of Semtech by 14.7% in the first quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 377 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Semtech by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company’s stock worth $660,000 after purchasing an additional 399 shares during the period.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.