Semtech Corporation (NASDAQ:SMTC – Get Free Report)’s share price was up 4.9% on Tuesday. The company traded as high as $176.00 and last traded at $176.4550. Approximately 760,459 shares traded hands during trading, a decline of 73% from the average daily volume of 2,819,530 shares. The stock had previously closed at $168.28.
Analyst Ratings Changes
SMTC has been the subject of several research analyst reports. Roth Capital set a $220.00 price target on shares of Semtech in a research note on Wednesday, August 26th. Wall Street Zen raised Semtech from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Morgan Stanley boosted their price objective on Semtech from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Wednesday, August 26th. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price target on shares of Semtech in a research report on Wednesday, August 26th. Finally, Stifel Nicolaus lifted their price objective on shares of Semtech from $188.00 to $220.00 and gave the company a “buy” rating in a report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $212.47.
Get Our Latest Stock Report on Semtech
Semtech Price Performance
Semtech (NASDAQ:SMTC – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $341.87 million for 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%. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, sell-side analysts forecast that Semtech Corporation will post 2.64 EPS for the current year.
Insiders Place Their Bets
In other Semtech news, EVP Jason Elliot Green sold 2,766 shares of the business’s stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $190.35, for a total transaction of $526,508.10. Following the sale, the executive vice president owned 7,367 shares of the company’s stock, valued at $1,402,308.45. The trade was a 27.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $138.71, for a total value of $277,420.00. Following the sale, the chief executive officer directly owned 60,799 shares in the company, valued at $8,433,429.29. This trade represents a 3.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,737 shares of company stock worth $2,267,877 in the last ninety days. 0.44% of the stock is owned by corporate insiders.
Institutional Trading of Semtech
Institutional investors and hedge funds have recently bought and sold shares of the company. Andar Capital Management HK Ltd purchased a new stake in shares of Semtech in the second quarter worth $162,000,000. BlackRock Inc. bought a new stake in shares of Semtech during the 2nd quarter worth $1,577,947,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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. Assenagon Asset Management S.A. grew its position in Semtech by 323.0% in 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. Finally, Atreides Management LP purchased a new position in Semtech in the second quarter worth $89,214,000.
Semtech Company Profile
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.
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