Semtech (NASDAQ:SMTC) Director Paul Walsh, Jr. Sells 500 Shares of Stock

Semtech Corporation (NASDAQ:SMTC) Director Paul Walsh, Jr. sold 500 shares of Semtech stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $139.44, for a total value of $69,720.00. Following the completion of the sale, the director directly owned 26,100 shares in the company, valued at approximately $3,639,384. The trade was a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Up 5.5%

Shares of SMTC opened at $132.00 on Friday. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of 87.42 and a beta of 2.41. Semtech Corporation has a 1 year low of $60.28 and a 1 year high of $201.99. The business’s 50 day simple moving average is $156.98 and its 200-day simple moving average is $141.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31.

Semtech (NASDAQ:SMTC) last posted its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%. The firm had revenue of $341.87 million during the quarter, compared to the consensus estimate of $328.67 million. During the same period in the prior year, the company earned $0.41 EPS. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, equities analysts expect that Semtech Corporation will post 2.80 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SMTC has been the subject of a number of recent research reports. UBS Group lifted their price objective on shares of Semtech from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. BMO Capital Markets upped their target price on shares of Semtech from $155.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, October 13th. Morgan Stanley set a $205.00 target price on shares of Semtech in a research report on Friday, October 16th. Zacks Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. Finally, Robert W. Baird lifted their price target on Semtech from $225.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $213.11.

Institutional Trading of Semtech

A number of institutional investors have recently bought and sold shares of the stock. Sigma Planning Corp bought a new stake in Semtech in the third quarter worth about $1,125,000. Brucke Financial Inc. purchased a new position in shares of Semtech during the third quarter valued at approximately $229,000. Signaturefd LLC boosted its position in shares of Semtech by 43.5% during the third quarter. Signaturefd LLC now owns 548 shares of the semiconductor company’s stock valued at $98,000 after buying an additional 166 shares during the period. Citizens Financial Group Inc. RI bought a new position in shares of Semtech during the third quarter valued at approximately $223,000. Finally, SBI Securities Co. Ltd. grew its stake in shares of Semtech by 29.6% during the third quarter. SBI Securities Co. Ltd. now owns 679 shares of the semiconductor company’s stock valued at $121,000 after buying an additional 155 shares during the last quarter.

About Semtech

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and infrastructure technology company that develops analog and mixed-signal products for communications, industrial, data center, consumer, and automotive applications. Its portfolio is designed to improve connectivity, power efficiency, signal integrity, and protection in electronic systems.

The company’s products include high-speed connectivity solutions for data centers and communications networks, power management and protection devices, signal integrity components, and wireless and radio-frequency technologies.