Semtech (NASDAQ:SMTC) EVP Sells 2,264 Shares

Semtech Corporation (NASDAQ:SMTC) EVP Jason Elliot Green sold 2,264 shares of Semtech stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total value of $294,093.60. Following the sale, the executive vice president directly owned 8,611 shares in the company, valued at $1,118,568.90. The trade was a 20.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Performance

Shares of NASDAQ:SMTC traded up $8.66 on Thursday, hitting $137.50. The company’s stock had a trading volume of 2,856,428 shares, compared to its average volume of 2,752,707. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of -352.56 and a beta of 2.31. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. Semtech Corporation has a 12 month low of $46.02 and a 12 month high of $177.35. The stock’s 50-day moving average is $146.24 and its two-hundred day moving average is $105.84.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. The firm had revenue of $291.02 million for the quarter, compared to analysts’ expectations of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. Semtech’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, equities research analysts forecast that Semtech Corporation will post 1.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMTC. Stifel Nicolaus increased their price target on Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Morgan Stanley upped their price objective on Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Semtech in a research note on Thursday, June 18th. TD Cowen lifted their target price on Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Roth Capital boosted their price target on shares of Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and a consensus target price of $189.07.

Institutional Investors Weigh In On Semtech

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC grew its holdings in shares of Semtech by 900.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 180 shares during the last quarter. Allied Private Wealth LLC acquired a new position in shares of Semtech in the 2nd quarter valued at $65,000. Banque Cantonale Vaudoise acquired a new position in shares of Semtech in the 1st quarter valued at $33,000. IFP Advisors Inc purchased a new position in Semtech in the 4th quarter worth about $53,000. Finally, Sound Income Strategies LLC purchased a new position in Semtech in the 4th quarter worth about $60,000.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.