Semtech (NASDAQ:SMTC) COO Asaf Silberstein Sells 8,500 Shares

Semtech Corporation (NASDAQ:SMTC) COO Asaf Silberstein sold 8,500 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the sale, the chief operating officer owned 96,862 shares in the company, valued at approximately $12,378,963.60. The trade was a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 down $1.37 during midday trading on Friday, reaching $136.13. 2,701,707 shares of the company’s stock traded hands, compared to its average volume of 4,258,080. The company has a market cap of $12.68 billion, a price-to-earnings ratio of -349.05 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 one year low of $46.02 and a one year high of $177.35. The stock has a 50 day moving average of $147.85 and a 200 day moving average of $106.50.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SMTC. Vanguard Group Inc. lifted its position in Semtech by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock valued at $873,842,000 after purchasing an additional 298,987 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Semtech by 3.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock worth $526,861,000 after buying an additional 261,647 shares during the last quarter. State Street Corp raised its position in shares of Semtech by 1.5% during the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after buying an additional 60,788 shares in the last quarter. Whale Rock Capital Management LLC raised its position in shares of Semtech by 11.3% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock valued at $287,499,000 after buying an additional 396,504 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Semtech by 8.7% in the 3rd quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock valued at $257,770,000 after acquiring an additional 289,313 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. TD Cowen upped their price objective on Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Susquehanna upped their price target on Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a research note on Wednesday, May 27th. Benchmark increased their price objective on shares of Semtech from $120.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Northland Securities lowered shares of Semtech from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, Robert W. Baird raised their target price on shares of Semtech from $110.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $189.07.

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.