Insider Selling: Semtech (NASDAQ:SMTC) CEO Sells $324,200.00 in Stock

Semtech Corporation (NASDAQ:SMTC) CEO Hong Hou sold 2,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $162.10, for a total value of $324,200.00. Following the completion of the transaction, the chief executive officer directly owned 69,228 shares in the company, valued at $11,221,858.80. This represents a 2.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Price Performance

NASDAQ SMTC opened at $163.57 on Friday. The stock has a market capitalization of $15.24 billion, a P/E ratio of -419.41 and a beta of 2.32. Semtech Corporation has a 1 year low of $39.07 and a 1 year high of $172.35. The business’s fifty day moving average is $123.82 and its two-hundred day moving average is $95.31. 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 (NASDAQ:SMTC) last posted its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. The company had revenue of $291.02 million for the quarter, compared to analysts’ expectations of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, research analysts forecast that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Semtech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in shares of Semtech during the 1st quarter valued at $33,000. Hantz Financial Services Inc. grew its holdings in shares of Semtech by 243.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 360 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Semtech by 42.5% during the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 173 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Semtech by 65.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 235 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Semtech by 1,745.5% during the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 576 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have issued reports on SMTC. UBS Group upped their price target on Semtech from $165.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Craig Hallum lifted their price objective on shares of Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Mizuho set a $225.00 price objective on shares of Semtech in a research report on Wednesday, May 27th. Citigroup cut shares of Semtech from a “buy” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, Needham & Company LLC lifted their price objective on shares of Semtech from $105.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.73.

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.