Semtech (NASDAQ:SMTC) Stock Jumps 4.3% – Here’s What Happened

Semtech Corporation (NASDAQ:SMTC) rose 4.3% during mid-day trading on Friday. The company traded as high as $181.00 and last traded at $182.0340. Approximately 904,156 shares were traded during trading, a decline of 68% from the average session volume of 2,802,103 shares. The stock had previously closed at $174.50.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SMTC. New Street Research set a $230.00 price target on Semtech in a report on Thursday, August 20th. Roth Capital set a $220.00 target price on Semtech in a research report on Wednesday, August 26th. Robert W. Baird increased their target price on Semtech from $225.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Benchmark reissued a “buy” rating on shares of Semtech in a research report on Thursday, August 20th. Finally, Seaport Research Partners started coverage on shares of Semtech in a research note on Tuesday. They issued a “buy” rating and a $200.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.71.

Semtech Price Performance

The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $140.26 and a 200-day simple moving average of $128.66. The stock has a market cap of $17.13 billion, a price-to-earnings ratio of 121.47 and a beta of 2.35.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.61 by $0.10. The company had revenue of $341.87 million during the quarter, compared to analyst estimates of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The business’s revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, research analysts anticipate that Semtech Corporation will post 2.64 EPS for the current fiscal year.

Insider Transactions at Semtech

In other Semtech news, CEO Hong Hou sold 2,000 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $133.00, for a total transaction of $266,000.00. Following the completion of the sale, the chief executive officer owned 64,799 shares in the company, valued at $8,618,267. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,264 shares of the stock in a transaction 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 sale, the executive vice president directly owned 8,611 shares in the company, valued at $1,118,568.90. This trade represents a 20.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,238 shares of company stock valued at $3,274,388 over the last quarter. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Semtech

Several institutional investors and hedge funds have recently bought and sold shares of SMTC. Leonteq Securities AG increased its stake in shares of Semtech by 11.2% during the 1st quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 118 shares during the last quarter. Corient Private Wealth LP lifted its stake in shares of Semtech by 4.0% in the 2nd quarter. Corient Private Wealth LP now owns 3,147 shares of the semiconductor company’s stock valued at $515,000 after purchasing an additional 122 shares during the last quarter. ABS Investment Management LLC acquired a new stake in shares of Semtech in the 2nd quarter valued at $178,035,000. FNY Investment Advisers LLC boosted its holdings in Semtech by 900.0% in the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 180 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Semtech during the second quarter worth $32,000.

About Semtech

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and technology company that designs and supplies analog and mixed-signal products. Its solutions are used to manage, protect, connect and process electronic signals in infrastructure, data centers, industrial systems, automotive applications, consumer devices and communications equipment.

The company’s portfolio includes signal-integrity and connectivity products, power-management and protection devices, wireless and radio-frequency solutions, and specialized semiconductors.