Stock Traders Buy Large Volume of Semtech Put Options (SMTC)

Semtech Co. (NASDAQ:SMTC) was the target of some unusual options trading on Thursday. Investors bought 1,505 put options on the stock. This represents an increase of 910% compared to the average volume of 149 put options.

SMTC has been the topic of several analyst reports. Zacks Investment Research downgraded Semtech from a “hold” rating to a “sell” rating in a report on Tuesday, December 5th. Oppenheimer restated a “buy” rating and set a $42.00 price objective on shares of Semtech in a report on Sunday, November 19th. Piper Jaffray Companies initiated coverage on Semtech in a report on Monday, December 18th. They set a “neutral” rating and a $35.00 price objective on the stock. BWS Financial initiated coverage on Semtech in a report on Monday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. Finally, B. Riley restated a “buy” rating and set a $46.00 price objective (down from $48.00) on shares of Semtech in a report on Monday, November 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Semtech currently has an average rating of “Buy” and a consensus price target of $41.90.

In other Semtech news, Director Glen M. Antle sold 5,000 shares of Semtech stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $34.56, for a total transaction of $172,800.00. Following the sale, the director now directly owns 5,000 shares in the company, valued at approximately $172,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mohan Maheswaran sold 2,500 shares of Semtech stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $34.44, for a total value of $86,100.00. Following the sale, the chief executive officer now owns 212,872 shares in the company, valued at $7,331,311.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,784 shares of company stock worth $3,255,785. Company insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SMTC. Parametric Portfolio Associates LLC grew its position in shares of Semtech by 10.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 138,606 shares of the semiconductor company’s stock worth $4,955,000 after acquiring an additional 13,182 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Semtech by 9.9% in the 2nd quarter. Voya Investment Management LLC now owns 29,685 shares of the semiconductor company’s stock worth $1,061,000 after acquiring an additional 2,680 shares in the last quarter. State Street Corp grew its position in shares of Semtech by 4.8% in the 2nd quarter. State Street Corp now owns 1,902,288 shares of the semiconductor company’s stock worth $68,013,000 after acquiring an additional 86,399 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Semtech by 8.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,901 shares of the semiconductor company’s stock worth $390,000 after acquiring an additional 866 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Semtech by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock valued at $1,781,000 after purchasing an additional 186 shares during the period. Institutional investors own 96.02% of the company’s stock.

Semtech (NASDAQ:SMTC) opened at $34.05 on Friday. The company has a market capitalization of $2,226.32, a P/E ratio of 49.35, a PEG ratio of 4.50 and a beta of 1.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.80 and a quick ratio of 3.20. Semtech has a 12-month low of $31.30 and a 12-month high of $41.95.

Semtech (NASDAQ:SMTC) last issued 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. The company had revenue of $156.60 million during the quarter, compared to analyst estimates of $155.69 million. Semtech had a return on equity of 12.13% and a net margin of 7.79%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. research analysts expect that Semtech will post 1.21 earnings per share for the current year.

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Semtech Company Profile

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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