Insider Selling: Semtech (NASDAQ:SMTC) CEO Sells $277,420.00 in Stock

Semtech Corporation (NASDAQ:SMTC) CEO Hong Hou sold 2,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $138.71, for a total transaction of $277,420.00. Following the transaction, the chief executive officer owned 60,799 shares of the company’s stock, valued at $8,433,429.29. The trade was a 3.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Up 5.1%

Shares of SMTC stock opened at $167.24 on Friday. 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 Corporation has a 1 year low of $57.50 and a 1 year high of $177.35. The firm’s fifty day moving average price is $133.86 and its two-hundred day moving average price is $123.36. The firm has a market capitalization of $15.61 billion, a P/E ratio of 110.76 and a beta of 2.35.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.61 by $0.10. The firm had revenue of $341.87 million for the quarter, compared to analysts’ expectations of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, equities analysts predict that Semtech Corporation will post 2.64 EPS for the current fiscal year.

Institutional Trading of Semtech

Institutional investors and hedge funds have recently bought and sold shares of the business. Andar Capital Management HK Ltd bought a new position in shares of Semtech during the 2nd quarter worth approximately $162,000,000. California State Teachers Retirement System increased its holdings 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 worth $2,823,788,000 after acquiring an additional 17,344,126 shares during the last quarter. BlackRock Inc. bought a new stake in Semtech in the 2nd quarter valued at $1,577,947,000. Ameriprise Financial Inc. raised its stake in Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after acquiring an additional 666,456 shares during the period. Finally, State Street Corp lifted its holdings in 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 purchasing an additional 60,788 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Oppenheimer set a $200.00 price target on Semtech in a research report on Wednesday, May 27th. Robert W. Baird upped their price objective on Semtech from $225.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. UBS Group increased their price objective on Semtech from $225.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Citigroup cut shares of Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. Finally, TD Cowen boosted their target price on shares of Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.71.

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.