Semtech (NASDAQ:SMTC) Stock Price Down 5.3% – Time to Sell?

Semtech Corporation (NASDAQ:SMTC) fell 5.3% during mid-day trading on Thursday . The company traded as low as $127.14 and last traded at $126.7980. 161,636 shares traded hands during trading, a decline of 94% from the average session volume of 2,730,529 shares. The stock had previously closed at $133.85.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SMTC. Susquehanna boosted their price target on shares of Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, May 27th. TD Cowen lifted their price objective on shares of Semtech from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Stifel Nicolaus upped their price objective on shares of Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Needham & Company LLC reissued a “buy” rating and set a $200.00 target price on shares of Semtech in a research report on Wednesday, August 26th. Finally, Roth Capital set a $220.00 target price on Semtech in a report on Wednesday, August 26th. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Semtech has an average rating of “Moderate Buy” and an average target price of $204.71.

Semtech Stock Down 0.5%

The firm has a market cap of $12.44 billion, a price-to-earnings ratio of 88.14 and a beta of 2.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70. The business’s 50-day moving average is $133.13 and its 200-day moving average is $120.27.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The firm had revenue of $341.87 million for the quarter, compared to analyst estimates of $328.67 million. During the same period last year, the company earned $0.41 EPS. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, equities analysts predict that Semtech Corporation will post 2.64 EPS for the current year.

Insiders Place Their Bets

In other Semtech news, EVP Jason Elliot Green sold 2,264 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total transaction of $294,093.60. Following the completion of the transaction, the executive vice president owned 8,611 shares of the company’s stock, valued at $1,118,568.90. This represents a 20.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul V. Walsh, Jr. sold 500 shares of Semtech stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $164.99, for a total transaction of $82,495.00. Following the completion of the sale, the director owned 28,100 shares in the company, valued at $4,636,219. The trade was a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,734 shares of company stock worth $3,133,986 in the last 90 days. Company insiders own 0.44% of the company’s stock.

Institutional Trading of Semtech

Institutional investors have recently added to or reduced their stakes in the company. Andar Capital Management HK Ltd acquired a new position in Semtech in the second quarter valued at about $162,000,000. California State Teachers Retirement System grew its stake in shares of Semtech by 16,868.8% during the second quarter. California State Teachers Retirement System now owns 17,446,944 shares of the semiconductor company’s stock worth $2,823,788,000 after buying an additional 17,344,126 shares during the last quarter. BlackRock Inc. bought a new position in shares of Semtech in the 2nd quarter valued at $1,577,947,000. Ameriprise Financial Inc. grew its position in Semtech by 10.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after acquiring an additional 666,456 shares during the last quarter. Finally, State Street Corp grew its position in Semtech by 1.5% during the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after acquiring an additional 60,788 shares during the last quarter.

About Semtech

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.