Insider Selling: Semtech (NASDAQ:SMTC) Director Sells $217,500.00 in Stock

Semtech Corporation (NASDAQ:SMTC) Director Julie Ruehl sold 1,500 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $145.00, for a total value of $217,500.00. Following the completion of the transaction, the director directly owned 7,140 shares of the company’s stock, valued at approximately $1,035,300. This trade represents a 17.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Up 5.1%

Shares of SMTC opened at $167.24 on Friday. The business’s 50 day moving average is $133.86 and its 200 day moving average is $123.36. The company has a market capitalization of $15.61 billion, a PE ratio of 110.76 and a beta of 2.35. Semtech Corporation has a 12-month low of $57.50 and a 12-month high of $177.35. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping 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 company had revenue of $341.87 million for the quarter, compared to analysts’ expectations of $328.67 million. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s 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. Research analysts expect that Semtech Corporation will post 2.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on SMTC shares. Stifel Nicolaus raised their target price on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Morgan Stanley boosted their price target on shares of Semtech from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 26th. Citigroup downgraded shares of Semtech from a “buy” rating to a “market perform” rating in a report on Tuesday, May 26th. Benchmark reaffirmed a “buy” rating on shares of Semtech in a report on Thursday, August 20th. Finally, Robert W. Baird boosted their target price on Semtech from $225.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $204.71.

Hedge Funds Weigh In On Semtech

Several institutional investors have recently bought and sold shares of the business. Andar Capital Management HK Ltd bought a new stake in shares of Semtech in the 2nd quarter valued at approximately $162,000,000. California State Teachers Retirement System increased its position in shares of Semtech by 16,868.8% during the 2nd quarter. California State Teachers Retirement System now owns 17,446,944 shares of the semiconductor company’s stock valued at $2,823,788,000 after purchasing an additional 17,344,126 shares during the last quarter. BlackRock Inc. purchased a new stake in Semtech during the 2nd quarter valued at $1,577,947,000. Think Investments LP purchased a new stake in Semtech during the 3rd quarter valued at $58,618,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Semtech by 396.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company’s stock worth $136,298,000 after buying an additional 672,447 shares during the last quarter.

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.