Semtech Corporation (NASDAQ:SMTC – Get Free Report) shares traded up 4.3% during mid-day trading on Friday. The stock traded as high as $181.00 and last traded at $182.0340. 904,156 shares changed hands during trading, a decline of 68% from the average session volume of 2,802,103 shares. The stock had previously closed at $174.50.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on SMTC shares. Weiss Ratings raised Semtech from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Seaport Research Partners started coverage on Semtech in a report on Tuesday. They issued a “buy” rating and a $200.00 target price on the stock. Northland Securities upgraded shares of Semtech from a “market perform” rating to an “outperform” rating and set a $182.00 price objective on the stock in a report on Thursday, August 27th. BMO Capital Markets started coverage on Semtech in a research note on Wednesday, August 26th. They issued an “outperform” rating and a $155.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $200.00 price target on shares of Semtech in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.71.
View Our Latest Research Report on SMTC
Semtech Price Performance
Semtech (NASDAQ:SMTC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.10. The business had revenue of $341.87 million for the quarter, compared to analyst estimates of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, equities research analysts forecast that Semtech Corporation will post 2.64 earnings per share for the current year.
Insider Activity at Semtech
In related news, COO Asaf Silberstein sold 8,500 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total value of $1,086,300.00. Following the transaction, the chief operating officer directly owned 96,862 shares in the company, valued at $12,378,963.60. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rodolpho C. Cardenuto sold 5,321 shares of Semtech stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $877,965.00. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 23,238 shares of company stock worth $3,274,388. Insiders own 0.44% of the company’s stock.
Institutional Investors Weigh In On Semtech
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Semtech during the second quarter worth about $1,577,947,000. ABS Investment Management LLC acquired a new stake in shares of Semtech in the 2nd quarter valued at approximately $178,035,000. Andar Capital Management HK Ltd acquired a new stake in shares of Semtech in the 2nd quarter valued at approximately $162,000,000. Geode Capital Management LLC boosted its stake in Semtech by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock worth $154,704,000 after acquiring an additional 6,715 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Semtech by 396.3% during the 2nd 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 during the last quarter.
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.
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