Semtech (NASDAQ:SMTC) Trading Down 7.3% – Time to Sell?

Semtech Co. (NASDAQ:SMTC)’s share price traded down 7.3% during mid-day trading on Thursday . The company traded as low as $62.51 and last traded at $61.59. 117,649 shares were traded during trading, a decline of 94% from the average session volume of 1,883,683 shares. The stock had previously closed at $66.46.

Analyst Ratings Changes

SMTC has been the subject of several research analyst reports. Benchmark raised their target price on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Susquehanna raised their price objective on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Northland Securities lifted their price objective on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Needham & Company LLC increased their target price on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Stifel Nicolaus lifted their price target on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Semtech Price Performance

The business has a 50 day moving average price of $65.85 and a 200 day moving average price of $50.49. The stock has a market capitalization of $4.13 billion, a PE ratio of -4.18, a PEG ratio of 2.98 and a beta of 1.64.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the company posted $0.02 earnings per share.

Insider Activity at Semtech

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the chief operating officer now owns 76,417 shares of the company’s stock, valued at approximately $5,349,190. The trade was a 2.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $75.00, for a total transaction of $100,350.00. Following the transaction, the senior vice president now owns 14 shares in the company, valued at $1,050. This represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,747 shares of company stock valued at $1,095,061 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Semtech

Large investors have recently modified their holdings of the company. Huntington National Bank grew its stake in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 302 shares during the period. GAMMA Investing LLC lifted its holdings in Semtech by 15.3% during the fourth quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock valued at $196,000 after purchasing an additional 421 shares in the last quarter. Hanseatic Management Services Inc. boosted its position in shares of Semtech by 3.2% in the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 447 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 505 shares in the last quarter. Finally, Creative Planning raised its position in shares of Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after purchasing an additional 588 shares during the period.

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.