Key Points
- Semtech CFO Mark Lin sold 967 shares at an average price of $178.87, generating $172,967.29. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 35,999 shares.
- Semtech recently reported stronger-than-expected quarterly results, with EPS of $0.71 versus the $0.61 consensus estimate and revenue of $341.87 million, up 32.7% year over year.
- Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $208.06; shares opened at $192.83 and have traded between $60.28 and $201.99 over the past year.
Semtech Corporation (NASDAQ:SMTC - Get Free Report) CFO Mark Lin sold 967 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $178.87, for a total value of $172,967.29. Following the sale, the chief financial officer directly owned 35,999 shares in the company, valued at approximately $6,439,141.13. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Lin also recently made the following trade(s):
- On Thursday, September 10th, Mark Lin sold 683 shares of Semtech stock. The stock was sold at an average price of $159.90, for a total transaction of $109,211.70.
Semtech Trading Down 1.1%
Shares of Semtech stock opened at $192.83 on Tuesday. The company has a market capitalization of $18.00 billion, a price-to-earnings ratio of 127.70 and a beta of 2.41. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47. Semtech Corporation has a 12-month low of $60.28 and a 12-month high of $201.99. The firm's 50-day moving average price is $147.82 and its two-hundred day moving average price is $133.56.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.61 by $0.10. The company had revenue of $341.87 million during the quarter, compared to analysts' expectations of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, analysts forecast that Semtech Corporation will post 2.64 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Semtech
Institutional investors have recently added to or reduced their stakes in the stock. Andar Capital Management HK Ltd bought a new position in Semtech in the 2nd quarter valued at approximately $162,000,000. BlackRock Inc. bought a new stake in shares of Semtech during the second quarter worth $1,577,947,000. Fred Alger Management LLC grew its stake in shares of Semtech by 12.0% during the fourth quarter. Fred Alger Management LLC now owns 859,855 shares of the semiconductor company's stock worth $63,363,000 after buying an additional 92,396 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Semtech by 396.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company's stock worth $136,298,000 after buying an additional 672,447 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Semtech by 323.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 781,003 shares of the semiconductor company's stock valued at $60,051,000 after acquiring an additional 596,373 shares during the last quarter.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Weiss Ratings upgraded shares of Semtech from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, September 22nd. Zacks Research raised Semtech from a "hold" rating to a "strong-buy" rating in a report on Monday, September 21st. Seaport Research Partners assumed coverage on Semtech in a research note on Tuesday, September 22nd. They issued a "buy" rating and a $200.00 price target on the stock. Stifel Nicolaus boosted their price target on Semtech from $188.00 to $220.00 and gave the stock a "buy" rating in a report on Monday. Finally, BMO Capital Markets initiated coverage on Semtech in a research report on Wednesday, August 26th. They set an "outperform" rating and a $155.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $208.06.
Check Out Our Latest Stock Report on Semtech
About Semtech
(
Get Free Report)
Semtech Corporation is a global semiconductor and technology company that designs and supplies analog and mixed-signal products for communications, industrial, automotive, consumer, and infrastructure applications. Its solutions are used to manage, protect, connect, and transmit data in electronic systems.
The company's portfolio includes signal-integrity products, protection devices, power-management components, optical and high-speed connectivity solutions, and video-processing technologies.
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