Semtech Corporation (NASDAQ:SMTC - Get Free Report) COO Asaf Silberstein sold 8,500 shares of Semtech stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total value of $1,086,300.00. Following the completion of the transaction, the chief operating officer owned 96,862 shares of the company's stock, valued at approximately $12,378,963.60. This trade represents a 8.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Semtech Trading Down 1.0%
NASDAQ:SMTC traded down $1.37 during midday trading on Friday, hitting $136.13. 2,701,707 shares of the company traded hands, compared to its average volume of 4,258,080. The firm's fifty day moving average is $147.85 and its 200-day moving average is $106.50. Semtech Corporation has a 12-month low of $46.02 and a 12-month high of $177.35. The firm has a market capitalization of $12.68 billion, a P/E ratio of -349.05 and a beta of 2.31. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.06. The company had revenue of $291.02 million during 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%.Semtech's revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, sell-side analysts predict that Semtech Corporation will post 1.81 EPS for the current year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC boosted its position in Semtech by 900.0% during the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 180 shares in the last quarter. Allied Private Wealth LLC bought a new position in Semtech in the second quarter worth about $65,000. Banque Cantonale Vaudoise purchased a new stake in shares of Semtech during the first quarter valued at about $33,000. IFP Advisors Inc bought a new stake in shares of Semtech in the 4th quarter valued at about $53,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Semtech in the 4th quarter valued at about $60,000.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on SMTC shares. Needham & Company LLC increased their price objective on shares of Semtech from $105.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Semtech in a research note on Thursday, June 18th. Roth Capital upped their price objective on Semtech from $102.00 to $190.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Susquehanna increased their target price on Semtech from $170.00 to $200.00 and gave the stock a "positive" rating in a research note on Wednesday, May 27th. Finally, TD Cowen lifted their target price on Semtech from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. One 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 given a Sell rating to the stock. According to MarketBeat.com, Semtech has an average rating of "Moderate Buy" and a consensus target price of $189.07.
Check Out Our Latest Stock Report on Semtech
About Semtech
(
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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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