Semtech Corporation (NASDAQ:SMTC – Get Free Report)’s stock price fell 6.7% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $169.01 and last traded at $170.0780. Approximately 898,499 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 2,798,290 shares. The stock had previously closed at $182.30.
Specifically, Director Paul Walsh, Jr. sold 500 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $172.61, for a total value of $86,305.00. Following the completion of the sale, the director directly owned 26,600 shares of the company’s stock, valued at $4,591,426. This represents a 1.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Analyst Ratings Changes
A number of analysts recently weighed in on SMTC shares. Morgan Stanley increased their price target on shares of Semtech from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 26th. Robert W. Baird increased their price objective on Semtech from $225.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. TD Cowen lifted their price target on shares of Semtech from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. New Street Research set a $230.00 price objective on shares of Semtech in a research report on Thursday, August 20th. Finally, Wall Street Zen raised Semtech from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.71.
Semtech Price Performance
The company’s 50-day moving average is $143.23 and its 200-day moving average is $130.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31. The firm has a market capitalization of $16.81 billion, a price-to-earnings ratio of 119.27 and a beta of 2.35.
Semtech (NASDAQ:SMTC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.61 by $0.10. The firm had revenue of $341.87 million during the quarter, compared to analyst estimates of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. Semtech’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 business posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, research analysts expect that Semtech Corporation will post 2.64 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Semtech by 0.3% during the fourth 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. Swiss National Bank raised its holdings in shares of Semtech by 6.9% in the 1st quarter. Swiss National Bank now owns 183,000 shares of the semiconductor company’s stock worth $14,071,000 after purchasing an additional 11,800 shares during the period. Osterweis Capital Management Inc. acquired a new position in shares of Semtech in the 2nd quarter valued at about $9,783,000. Canada Pension Plan Investment Board acquired a new position in shares of Semtech in the 2nd quarter valued at about $39,313,000. Finally, Sei Investments Co. grew its holdings in shares of Semtech by 65.9% during the 1st quarter. Sei Investments Co. now owns 357,875 shares of the semiconductor company’s stock worth $27,517,000 after purchasing an additional 142,197 shares during the period.
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.
Featured Articles
- Five stocks we like better than Semtech
- CarMax Just Gave Investors a Better Reason to Believe in the Turnaround
- CoreWeave Comes With Risks: Analysts Split on What Matters Most
- Bottlenecking the Future: TSMC Prices Out the Competition
- Fervo Energy Hits Geothermal Milestone: Will It Matter For The Stock?
Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.
