Semtech (NASDAQ:SMTC) Insider Sells $935,000.00 in Stock

Semtech Corporation (NASDAQ:SMTC) insider John Michael Wilson sold 5,500 shares of Semtech stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $170.00, for a total value of $935,000.00. Following the sale, the insider directly owned 80,876 shares of the company’s stock, valued at approximately $13,748,920. The trade was a 6.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Semtech Stock Down 7.7%

SMTC opened at $149.75 on Friday. The company has a market capitalization of $13.95 billion, a PE ratio of -383.97 and a beta of 2.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. Semtech Corporation has a fifty-two week low of $42.38 and a fifty-two week high of $177.35. The business has a 50-day moving average of $140.43 and a 200-day moving average of $101.91.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $291.02 million for the quarter, compared to the consensus estimate of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities research analysts forecast that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Benchmark boosted their price target on Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Oppenheimer set a $200.00 price objective on Semtech in a report on Wednesday, May 27th. Morgan Stanley raised their price objective on Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Mizuho set a $225.00 target price on Semtech in a research report on Wednesday, May 27th. Finally, Susquehanna lifted their price target on shares of Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.07.

Institutional Investors Weigh In On Semtech

Several hedge funds have recently made changes to their positions in SMTC. Jones Financial Companies Lllp increased its stake 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 valued at $89,000 after acquiring an additional 2,565 shares during the period. Empowered Funds LLC raised its stake 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 purchasing an additional 968 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Semtech by 5.8% during the first 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 in the last quarter. Strs Ohio bought a new stake in Semtech in the 1st quarter valued at $65,000. Finally, Cetera Investment Advisers acquired a new position in shares of Semtech in the 2nd quarter valued at $226,000.

About Semtech

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.