Semtech Corporation (NASDAQ:SMTC – Get Free Report)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $132.15, but opened at $145.04. Semtech shares last traded at $141.3330, with a volume of 546,478 shares traded.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Semtech in a research note on Thursday, June 18th. B. Riley Financial increased their price target on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Northland Securities cut shares of Semtech from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Mizuho set a $225.00 price objective on shares of Semtech in a research report on Wednesday, May 27th. Finally, Craig Hallum raised their target price on shares of Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $189.07.
Check Out Our Latest Analysis on SMTC
Semtech Trading Up 5.2%
Semtech (NASDAQ:SMTC – Get Free Report) last posted its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share 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 period in the previous year, the business earned $0.38 earnings per share. The company’s revenue for the quarter 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 expect that Semtech Corporation will post 1.81 earnings per share for the current year.
Insider Activity at Semtech
In related news, CFO Mark Lin sold 970 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total value of $145,897.70. Following the completion of the sale, the chief financial officer owned 34,896 shares in the company, valued at $5,248,707.36. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the sale, the chief operating officer directly owned 96,862 shares in the company, valued at approximately $12,378,963.60. This represents a 8.07% 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. In the last ninety days, insiders sold 20,734 shares of company stock worth $2,990,056. 0.48% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Semtech
Hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its position in Semtech by 12,214.3% during the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock worth $89,000 after purchasing an additional 2,565 shares in the last quarter. Empowered Funds LLC increased its position in shares of Semtech by 11.5% in the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock valued at $323,000 after buying an additional 968 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Semtech by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock worth $14,166,000 after buying an additional 22,629 shares during the last quarter. Strs Ohio acquired a new position in shares of Semtech during the 1st quarter worth $65,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Semtech in the 2nd quarter worth about $226,000.
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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