Mark Lin Sells 970 Shares of Semtech (NASDAQ:SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) CFO Mark Lin sold 970 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total transaction of $145,897.70. Following the completion of the sale, the chief financial officer directly owned 34,896 shares in the company, valued at $5,248,707.36. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Up 2.7%

NASDAQ SMTC traded up $3.62 during trading hours on Monday, reaching $138.89. 2,309,531 shares of the company’s stock traded hands, compared to its average volume of 2,744,848. Semtech Corporation has a 52-week low of $42.42 and a 52-week high of $177.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The firm has a 50-day simple moving average of $144.68 and a 200 day simple moving average of $104.54. The firm has a market cap of $12.94 billion, a PE ratio of -356.13 and a beta of 2.31.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share 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 business had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. During the same quarter last year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Sell-side analysts anticipate that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Semtech

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise purchased a new position in shares of Semtech during the first quarter valued at approximately $33,000. IFP Advisors Inc purchased a new position in shares of Semtech in the 4th quarter worth $53,000. Smartleaf Asset Management LLC grew its holdings in shares of Semtech by 24.1% in the second quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 247 shares during the period. Sound Income Strategies LLC purchased a new stake in Semtech during the fourth quarter valued at $60,000. Finally, NewEdge Advisors LLC increased its position in Semtech by 1,215.4% during the third quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 790 shares during the last quarter.

Wall Street Analysts Forecast Growth

SMTC has been the subject of several recent analyst reports. Citigroup lowered Semtech from a “buy” rating to a “market perform” rating in a research report on Tuesday, May 26th. UBS Group lifted their target price on shares of Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Morgan Stanley upped their target price on shares of Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Mizuho set a $225.00 price target on shares of Semtech in a report on Wednesday, May 27th. Finally, Stifel Nicolaus boosted their price objective on shares of Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Semtech has a consensus rating of “Moderate Buy” and a consensus target price of $189.07.

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.