Insider Selling: Semtech (NASDAQ:SMTC) CFO Sells $172,967.29 in Stock

Semtech Corporation (NASDAQ:SMTC) CFO Mark Lin sold 967 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $178.87, for a total transaction of $172,967.29. Following the sale, the chief financial officer directly owned 35,999 shares in the company, valued at $6,439,141.13. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Lin also recently made the following trade(s):

• On Thursday, September 10th, Mark Lin sold 683 shares of Semtech stock. The stock was sold at an average price of $159.90, for a total transaction of $109,211.70.

Semtech Stock Down 1.7%

NASDAQ:SMTC opened at $193.78 on Thursday. The company has a market cap of $18.09 billion, a price-to-earnings ratio of 128.33 and a beta of 2.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70. The stock’s fifty day moving average price is $151.35 and its two-hundred day moving average price is $135.24. Semtech Corporation has a 52-week low of $60.28 and a 52-week high of $201.99.

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

Institutional Investors Weigh In On Semtech

Several large investors have recently bought and sold shares of the company. Andar Capital Management HK Ltd bought a new position in shares of Semtech during the second quarter worth $162,000,000. BlackRock Inc. bought a new stake in shares of Semtech in the 2nd quarter valued at $1,577,947,000. Fred Alger Management LLC raised its stake in Semtech by 12.0% during the 4th quarter. Fred Alger Management LLC now owns 859,855 shares of the semiconductor company’s stock worth $63,363,000 after buying an additional 92,396 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Semtech by 396.3% during 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 acquiring an additional 672,447 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Semtech by 323.0% during the first quarter. Assenagon Asset Management S.A. now owns 781,003 shares of the semiconductor company’s stock worth $60,051,000 after acquiring an additional 596,373 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SMTC. Oppenheimer lifted their price target on shares of Semtech from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, October 1st. BMO Capital Markets began coverage on shares of Semtech in a research note on Wednesday, August 26th. They issued an “outperform” rating and a $155.00 price objective on the stock. Benchmark reaffirmed a “buy” rating on shares of Semtech in a report on Thursday, August 20th. UBS Group upped their target price on shares of Semtech from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Finally, Roth Capital set a $220.00 price target on Semtech in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average target price of $208.06.

About Semtech

Semtech Corporation is a global semiconductor and technology company that designs and supplies analog and mixed-signal products for communications, industrial, automotive, consumer, and infrastructure applications. Its solutions are used to manage, protect, connect, and transmit data in electronic systems.

The company’s portfolio includes signal-integrity products, protection devices, power-management components, optical and high-speed connectivity solutions, and video-processing technologies.