Semtech Corporation (NASDAQ:SMTC) Short Interest Up 14.8% in April
by Amy Steele · The Cerbat GemSemtech Corporation (NASDAQ:SMTC – Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 6,187,738 shares, a growth of 14.8% from the March 31st total of 5,387,755 shares. Based on an average trading volume of 2,110,405 shares, the short-interest ratio is currently 2.9 days. Approximately 6.7% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
SMTC has been the topic of a number of research reports. Stifel Nicolaus raised their price target on Semtech from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Susquehanna lifted their price objective on Semtech from $90.00 to $100.00 and gave the stock a “positive” rating in a report on Monday, March 9th. Oppenheimer raised their target price on Semtech from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. B. Riley Financial lifted their price objective on Semtech from $115.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Needham & Company LLC boosted their price target on Semtech from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.71.
Get Our Latest Report on Semtech
Semtech Trading Up 6.9%
Shares of NASDAQ:SMTC opened at $105.05 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 2.37. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of -238.75 and a beta of 2.06. Semtech has a 52-week low of $32.30 and a 52-week high of $113.05. The stock’s 50-day simple moving average is $88.30 and its two-hundred day simple moving average is $79.64.
Semtech (NASDAQ:SMTC – Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $274.40 million during the quarter, compared to analyst estimates of $273.14 million. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.Semtech’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. Analysts expect that Semtech will post 1.6 EPS for the current year.
Insider Transactions at Semtech
In other news, COO Asaf Silberstein sold 10,000 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $92.00, for a total value of $920,000.00. Following the completion of the transaction, the chief operating officer directly owned 68,496 shares of the company’s stock, valued at $6,301,632. This trade represents a 12.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Burvill sold 2,500 shares of Semtech stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $88.98, for a total value of $222,450.00. Following the sale, the director directly owned 4,409 shares of the company’s stock, valued at $392,312.82. This represents a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 46,384 shares of company stock valued at $3,920,140. 0.48% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Semtech
A number of institutional investors have recently bought and sold shares of the business. Kornitzer Capital Management Inc. KS purchased a new stake in Semtech in the 1st quarter worth $4,161,000. Oregon Public Employees Retirement Fund increased its stake in Semtech by 6.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 21,134 shares of the semiconductor company’s stock worth $1,625,000 after buying an additional 1,298 shares in the last quarter. Sage Rhino Capital LLC purchased a new stake in Semtech in the 1st quarter worth $221,000. Hodges Capital Management Inc. increased its stake in Semtech by 8.7% in the 1st quarter. Hodges Capital Management Inc. now owns 89,525 shares of the semiconductor company’s stock worth $6,884,000 after buying an additional 7,202 shares in the last quarter. Finally, Abel Hall LLC increased its stake in Semtech by 15.8% in the 1st quarter. Abel Hall LLC now owns 4,291 shares of the semiconductor company’s stock worth $330,000 after buying an additional 586 shares in the last quarter.
About Semtech
Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.
A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.