Semtech (NASDAQ:SMTC) Stock Price Down 6.7% on Insider Selling

Semtech Corporation (NASDAQ:SMTC)’s share price was down 6.7% on Monday following insider selling activity. The company traded as low as $169.01 and last traded at $170.0780. 898,499 shares were traded during trading, a decline of 68% from the average daily volume of 2,798,290 shares. The stock had previously closed at $182.30.

Specifically, Director Paul Walsh, Jr. sold 500 shares of Semtech stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $172.61, for a total transaction of $86,305.00. Following the completion of the sale, the director directly owned 26,600 shares of the company’s stock, valued at approximately $4,591,426. The trade was a 1.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Seaport Research Partners began coverage on Semtech in a research report on Tuesday, September 22nd. They set a “buy” rating and a $200.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $200.00 price target on shares of Semtech in a research note on Wednesday, August 26th. Morgan Stanley upped their price objective on shares of Semtech from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 26th. TD Cowen boosted their price target on shares of Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, BMO Capital Markets initiated coverage on Semtech in a research note on Wednesday, August 26th. They set an “outperform” rating and a $155.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and an average target price of $204.71.

Semtech Stock Down 6.7%

The stock’s 50 day simple moving average is $141.41 and its two-hundred day simple moving average is $129.35. The firm has a market cap of $15.87 billion, a P/E ratio of 112.87 and a beta of 2.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31.

Semtech (NASDAQ:SMTC) last issued 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 firm 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 posted $0.41 EPS. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, research analysts forecast that Semtech Corporation will post 2.64 earnings per share for the current year.

Institutional Investors Weigh In On Semtech

Several institutional investors and hedge funds have recently made changes to their positions in the company. Leonteq Securities AG raised its position in shares of Semtech by 11.2% during the first quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 118 shares during the last quarter. Corient Private Wealth LP grew its stake in Semtech by 4.0% during the second quarter. Corient Private Wealth LP now owns 3,147 shares of the semiconductor company’s stock valued at $515,000 after acquiring an additional 122 shares in the last quarter. ABS Investment Management LLC purchased a new position in Semtech during the second quarter valued at $178,035,000. FNY Investment Advisers LLC increased its holdings in Semtech by 900.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 180 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Semtech in the 2nd quarter valued at $32,000.

Semtech Company Profile

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.