Yesterday, the EVP & CFO of Semtech (SMTC), Emeka Chukwu, bought shares of SMTC for $223.4K.
This recent transaction increases Emeka Chukwu’s holding in the company by 4.21% to a total of $5.53 million. This is Chukwu’s first Buy trade following 3 Sell transactions.
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Based on Semtech’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $144 million and quarterly net profit of $16.13 million. In comparison, last year the company earned revenue of $137 million and had a net profit of $2.19 million. The company has a one-year high of $64.10 and a one-year low of $26.03. Currently, Semtech has an average volume of 324.27K.
Starting in July 2020, SMTC received 14 Buy ratings in a row. Based on 10 analyst ratings, the analyst consensus is Strong Buy with an average price target of $67.33, reflecting a -17.4% downside. Nine different firms, including B.Riley Financial and Needham, currently also have a Buy rating on the stock.
In the last 30 days, insiders have sold $166.2K worth of SMTC shares and purchased $223.4K worth of SMTC shares. The insider sentiment on Semtech has been negative according to 106 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
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Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. It offers signal integrity, protection, wireless and sensing, and power and high-reliability products. The company was founded in 1960 and is headquartered in Camarillo, CA.
