Semtech Corporation (NASDAQ:SMTC – Get Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $161.85, but opened at $150.41. Semtech shares last traded at $151.4190, with a volume of 594,253 shares trading hands.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on SMTC. Morgan Stanley upped their target price on Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Needham & Company LLC boosted their price objective on Semtech from $105.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Roth Mkm upped their price target on shares of Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Stifel Nicolaus raised their price objective on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Mizuho set a $225.00 target price on shares of Semtech in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $189.07.
Check Out Our Latest Stock Analysis on SMTC
Semtech Price Performance
Semtech (NASDAQ:SMTC – Get Free Report) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $291.02 million for the quarter, compared to the consensus estimate of $283.53 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Analysts anticipate that Semtech Corporation will post 1.81 EPS for the current fiscal year.
Insider Buying and Selling at Semtech
In other news, insider John Michael Wilson sold 5,500 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $170.00, for a total transaction of $935,000.00. Following the transaction, the insider owned 80,876 shares in the company, valued at $13,748,920. This represents a 6.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul V. Walsh, Jr. sold 500 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $164.99, for a total transaction of $82,495.00. Following the transaction, the director owned 28,100 shares in the company, valued at $4,636,219. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 13,500 shares of company stock valued at $1,866,435. 0.48% of the stock is currently owned by insiders.
Institutional Trading of Semtech
Several large investors have recently made changes to their positions in the stock. Royce & Associates LP increased its position in Semtech by 144.5% during the fourth quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock worth $7,930,000 after acquiring an additional 63,603 shares during the period. Argos Wealth Advisors LLC bought a new position in shares of Semtech during the 4th quarter worth about $640,000. GW&K Investment Management LLC acquired a new position in shares of Semtech during the third quarter valued at about $27,125,000. Geode Capital Management LLC lifted its stake in shares of Semtech by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock valued at $154,704,000 after buying an additional 6,715 shares during the period. Finally, Atreides Management LP grew its position in Semtech by 2.4% during the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company’s stock worth $48,453,000 after buying an additional 16,192 shares in the last quarter.
About Semtech
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.
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