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

Semtech Corporation (NASDAQ:SMTC) COO Asaf Silberstein sold 8,500 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total value of $1,086,300.00. Following the completion of the sale, the chief operating officer directly owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Down 1.0%

NASDAQ SMTC traded down $1.37 on Friday, hitting $136.13. 2,699,672 shares of the stock traded hands, compared to its average volume of 2,752,437. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average of $147.10 and a 200 day moving average of $106.29. Semtech Corporation has a twelve month low of $46.02 and a twelve month high of $177.35. The company has a market capitalization of $12.68 billion, a P/E ratio of -349.05 and a beta of 2.31.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The company had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. During the same quarter last year, the firm earned $0.38 EPS. The business’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. As a group, analysts expect that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SMTC has been the subject of several recent research reports. Roth Capital boosted their target price on shares of Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Oppenheimer set a $200.00 price target on shares of Semtech in a research report on Wednesday, May 27th. TD Cowen lifted their price target on shares of Semtech from $210.00 to $215.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Benchmark boosted their price objective on shares of Semtech from $120.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, UBS Group increased their price objective on shares of Semtech from $165.00 to $225.00 and gave the stock a “buy” 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 given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.07.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC increased its position 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 buying an additional 180 shares during the period. Banque Cantonale Vaudoise bought a new stake in Semtech in the first quarter valued at $33,000. IFP Advisors Inc acquired a new position in shares of Semtech during the fourth quarter valued at $53,000. Smartleaf Asset Management LLC boosted its holdings in shares of Semtech by 24.1% during the second quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 247 shares during the period. Finally, Sound Income Strategies LLC bought a new position in shares of Semtech during the fourth quarter worth about $60,000.

Semtech Company Profile

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.