Semtech Corporation (NASDAQ:SMTC – Get Free Report) shares traded down 7.8% during mid-day trading on Tuesday . The stock traded as low as $141.65 and last traded at $142.2310. Approximately 482,298 shares traded hands during trading, a decline of 82% from the average daily volume of 2,646,017 shares. The stock had previously closed at $154.22.
Analyst Upgrades and Downgrades
A number of analysts recently commented on SMTC shares. B. Riley Financial lifted their price objective on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Morgan Stanley upped their target price on shares of Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Roth Capital raised their target price on shares of Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. Finally, Mizuho set a $225.00 price target on shares of Semtech in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.07.
View Our Latest Stock Report on SMTC
Semtech Trading Down 11.7%
Semtech (NASDAQ:SMTC – Get Free Report) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $291.02 million for the quarter, compared to analysts’ expectations of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, research analysts predict that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.
Insider Activity
In related news, EVP Jason Elliot Green sold 2,264 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total transaction of $294,093.60. Following the completion of the transaction, the executive vice president owned 8,611 shares in the company, valued at approximately $1,118,568.90. The trade was a 20.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Michael Wilson sold 5,500 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $170.00, for a total transaction of $935,000.00. Following the completion of the sale, the insider owned 80,876 shares in the company, valued at approximately $13,748,920. This trade represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,234 shares of company stock valued at $3,203,091. 0.44% of the stock is currently owned by company insiders.
Institutional Trading of Semtech
Several hedge funds have recently added to or reduced their stakes in the business. Leonteq Securities AG lifted its holdings in Semtech by 11.2% during the first quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company’s stock worth $90,000 after acquiring an additional 118 shares in the last quarter. Evergreen Capital Management LLC grew its stake in Semtech by 2.3% in the fourth quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company’s stock valued at $438,000 after acquiring an additional 136 shares during the period. Stephens Inc. AR increased its holdings in shares of Semtech by 3.3% in the fourth quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company’s stock worth $325,000 after acquiring an additional 142 shares in the last quarter. ABS Investment Management LLC bought a new stake in shares of Semtech in the second quarter worth about $178,035,000. Finally, Captrust Financial Advisors raised its position in shares of Semtech by 0.8% during the fourth quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company’s stock worth $1,422,000 after purchasing an additional 162 shares during the period.
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.
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