Insider Selling: Semtech (NASDAQ:SMTC) Director Sells $86,305.00 in Stock

Semtech Corporation (NASDAQ:SMTC – Get Free Report) Director Paul Walsh, Jr. sold 500 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $172.61, for a total transaction of $86,305.00. Following the completion of the transaction, the director owned 26,600 shares in the company, valued at approximately $4,591,426. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Performance

Shares of NASDAQ SMTC traded up $7.80 during mid-day trading on Friday, hitting $182.30. The company had a trading volume of 2,376,273 shares, compared to its average volume of 2,811,130. 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 stock has a market cap of $17.01 billion, a price-to-earnings ratio of 120.73 and a beta of 2.35. Semtech Corporation has a 12 month low of $60.28 and a 12 month high of $190.64. The firm’s 50 day simple moving average is $140.26 and its two-hundred day simple moving average is $128.66.

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Semtech (NASDAQ:SMTC – Get Free Report) last issued its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The business had revenue of $341.87 million during the quarter, compared to the consensus estimate of $328.67 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The business’s revenue was up 32.7% on a year-over-year basis. 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.

Institutional Trading of Semtech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC acquired a new stake in Semtech during the second quarter worth $283,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Semtech during the second quarter worth approximately $374,000. Tidal Investments LLC bought a new position in Semtech in the 2nd quarter valued at $22,728,000. IPG Investment Advisors LLC bought a new position in shares of Semtech in the second quarter valued at about $296,000. Finally, WINTON GROUP Ltd acquired a new stake in Semtech in the 2nd quarter valued at about $599,000.

Wall Street Analyst Weigh In

SMTC has been the subject of a number of recent research reports. New Street Research set a $230.00 price objective on Semtech in a research report on Thursday, August 20th. Northland Securities upgraded shares of Semtech from a “market perform” rating to an “outperform” rating and set a $182.00 price target on the stock in a report on Thursday, August 27th. TD Cowen lifted their price objective on shares of Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Wall Street Zen raised Semtech from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Finally, Morgan Stanley raised their price target on shares of Semtech from $175.00 to $195.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.71.

Check Out Our Latest Analysis on SMTC

Semtech Company Profile

(Get Free Report)

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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