Semtech Corporation (SMTC) : The traders have covered their outstanding shorts in Semtech Corporation (SMTC) to the tune of -33,219 shares, a change of -2.5%. As on Jul 29, 2016, the outstanding shorts on the stock were 1,357,826 shares, however, by August 15, 2016, the shorts had reduced to 1,324,607 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 2.1% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 316,699 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Semtech Corporation (NASDAQ:SMTC): The stock opened at $26.27 on Wednesday but the bulls could not build on the opening and the stock topped out at $26.44 for the day. The stock traded down to $26.09 during the day, due to lack of any buying support eventually closed down at $26.18 with a loss of -0.46% for the day. The stock had closed at $26.30 on the previous day. The total traded volume was 359,066 shares.
In a related news,The director officer (President and CEO) of Semtech Corp, Maheswaran Mohan sold 1,500 shares at $26 on August 15, 2016. The Insider selling transaction had a total value worth of $39,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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, high-end consumer and industrial end-markets. It offers datacenters, passive optical networks, notebooks, servers and other computer peripherals for the enterprise computing market. It offers base stations, optical networks, carrier networks, switches and routers, cable modems and other communication infrastructure equipment for communications market. It offers handheld products, smartphones, set-top boxes, digital televisions, and other consumer equipment for the high-end consumer market. It offers video broadcast studio equipment, automated meter reading, Internet of Things (IoT), smart grid, military and aerospace, medical, security systems, automotive, industrial and home automation and other industrial equipment for the industrial market.