Semtech (NASDAQ:SMTC) Director Sells 500 Shares

Semtech Corporation (NASDAQ:SMTC) Director Paul Walsh, Jr. sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total value of $82,495.00. Following the completion of the sale, the director directly owned 28,100 shares of the company’s stock, valued at approximately $4,636,219. This represents a 1.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Price Performance

Shares of SMTC stock traded down $12.52 during trading hours on Friday, hitting $149.75. 18,122,279 shares of the company’s stock were exchanged, compared to its average volume of 2,711,812. The company has a market capitalization of $13.95 billion, a PE ratio of -383.97 and a beta of 2.32. Semtech Corporation has a 12-month low of $42.38 and a 12-month high of $177.35. The business’s 50 day simple moving average is $139.30 and its 200-day simple moving average is $101.57. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Oppenheimer set a $200.00 price target on shares of Semtech in a research report on Wednesday, May 27th. TD Cowen boosted their target price on Semtech from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC increased their target price on Semtech from $105.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Northland Securities lowered Semtech from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, Citigroup cut Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $189.07.

Institutional Trading of Semtech

Several large investors have recently modified their holdings of SMTC. Royce & Associates LP boosted its stake in Semtech by 144.5% during the fourth quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock worth $7,930,000 after acquiring an additional 63,603 shares in the last quarter. Argos Wealth Advisors LLC bought a new position in shares of Semtech during the fourth quarter valued at approximately $640,000. GW&K Investment Management LLC purchased a new position in shares of Semtech during the third quarter valued at approximately $27,125,000. Atreides Management LP lifted its holdings in shares of Semtech by 2.4% during the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company’s stock valued at $48,453,000 after purchasing an additional 16,192 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Semtech by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock worth $154,704,000 after purchasing an additional 6,715 shares in 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.