Semtech Target of Unusually Large Options Trading (SMTC)

Semtech Co. (NASDAQ:SMTC) was the recipient of some unusual options trading on Friday. Investors acquired 1,483 call options on the company. This represents an increase of 1,106% compared to the average volume of 123 call options.

Shares of Semtech (NASDAQ SMTC) opened at $35.40 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.20 and a current ratio of 3.80. The company has a market capitalization of $2,349.07, a price-to-earnings ratio of 51.31, a PEG ratio of 4.75 and a beta of 1.41. Semtech has a 1-year low of $31.50 and a 1-year high of $41.95.

Semtech (NASDAQ:SMTC) last announced its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.50 by $0.04. Semtech had a return on equity of 12.13% and a net margin of 7.79%. The company had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $155.69 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. research analysts expect that Semtech will post 1.21 EPS for the current fiscal year.

A number of brokerages have weighed in on SMTC. BidaskClub cut Semtech from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. Zacks Investment Research upgraded Semtech from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Oppenheimer restated a “buy” rating and set a $42.00 target price on shares of Semtech in a report on Thursday, November 30th. Drexel Hamilton restated a “buy” rating and set a $45.00 target price on shares of Semtech in a report on Thursday, November 30th. Finally, Royal Bank of Canada restated a “hold” rating and set a $34.00 target price on shares of Semtech in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $41.90.

In other Semtech news, SVP James Jungsup Kim sold 1,500 shares of the company’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $34.32, for a total value of $51,480.00. Following the sale, the senior vice president now directly owns 24,600 shares in the company, valued at $844,272. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles B. Ammann sold 2,250 shares of the company’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $34.31, for a total value of $77,197.50. The disclosure for this sale can be found here. Insiders sold 42,284 shares of company stock worth $1,502,185 over the last quarter. Company insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SMTC. Quantbot Technologies LP acquired a new position in shares of Semtech during the third quarter valued at $133,000. Teacher Retirement System of Texas acquired a new position in shares of Semtech during the third quarter valued at $204,000. Flinton Capital Management LLC lifted its stake in shares of Semtech by 66.7% during the second quarter. Flinton Capital Management LLC now owns 5,740 shares of the semiconductor company’s stock valued at $205,000 after acquiring an additional 2,296 shares during the period. Stifel Financial Corp acquired a new position in shares of Semtech during the third quarter valued at $209,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in shares of Semtech during the third quarter valued at $232,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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About Semtech

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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