Semtech EVP and COO sells $76,400 in stock

Asaf Silberstein, Executive Vice President and Chief Operating Officer of Semtech Corp (NASDAQ:SMTC), a $3.29 billion market cap semiconductor company, recently executed several stock transactions according to a recent filing. According to InvestingPro analysis, the stock currently trades near its Fair Value, with a notably high beta of 1.89 indicating significant price volatility. On June 6, Silberstein sold 2,000 shares of Semtech common stock at a price of $38.20 per share, amounting to a total transaction value of $76,400.

Earlier, on June 4, Silberstein acquired 12,004 shares of common stock through the vesting of restricted stock units, a transaction that did not involve a direct purchase price. Additionally, 6,096 shares were disposed of at $38.11 per share to cover tax obligations, totaling $232,318.

Following these transactions, Silberstein now holds 107,996 shares of Semtech common stock.

In other recent news, Semtech Corp. reported its second-quarter revenue and earnings per share (EPS) at $251.1 million and $0.38, respectively, slightly surpassing consensus estimates. The company forecasts continued growth with projected sales of $256 million and an EPS of $0.40 for the upcoming quarter. Several analysts have weighed in on these developments, with Benchmark maintaining a Buy rating and a $68 price target, citing strong financial health and promising outlooks. Piper Sandler also reiterated an Overweight rating with a $55 price target, highlighting Semtech’s robust performance in the data center sector and its growing backlog in IoT solutions.

Stifel increased its price target for Semtech to $45, maintaining a Buy rating, and noted the company’s momentum in infrastructure growth and innovative products like CopperEdge™. Susquehanna held a Positive rating with a $60 target, emphasizing growth potential in various product areas and ongoing collaborations with key partners like NVIDIA (NASDAQ:NVDA). Needham maintained its Buy rating and $54 target, recognizing strong first-quarter results and continued demand for data center products. These recent developments underscore Semtech’s strategic positioning and potential for sustained growth across its business segments.

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