Semtech (NASDAQ:SMTC) Stock Price Up 7.5% – Here’s What Happened

Semtech Corporation (NASDAQ:SMTC) shares shot up 7.5% during mid-day trading on Monday . The company traded as high as $152.50 and last traded at $150.90. Approximately 446,907 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,637,644 shares. The stock had previously closed at $140.35.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SMTC. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Semtech in a research note on Friday. TD Cowen upped their price objective on Semtech from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Mizuho set a $225.00 target price on Semtech in a research note on Wednesday, May 27th. Oppenheimer set a $200.00 price target on shares of Semtech in a research note on Wednesday, May 27th. Finally, Roth Capital lifted their price objective on shares of Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Semtech has a consensus rating of “Moderate Buy” and an average target price of $189.07.

Semtech Stock Up 10.0%

The firm has a market capitalization of $14.39 billion, a PE ratio of -396.01 and a beta of 2.35. The company has a fifty day simple moving average of $140.61 and a two-hundred day simple moving average of $115.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37.

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

Insider Activity

In other news, CFO Mark Lin sold 970 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total value of $145,897.70. Following the sale, the chief financial officer directly owned 34,896 shares in the company, valued at approximately $5,248,707.36. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Michael Wilson sold 5,500 shares of Semtech stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $170.00, for a total transaction of $935,000.00. Following the completion of the transaction, the insider directly owned 80,876 shares in the company, valued at approximately $13,748,920. The trade was a 6.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 22,234 shares of company stock valued at $3,203,091. 0.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Semtech

Several institutional investors have recently bought and sold shares of SMTC. FNY Investment Advisers LLC lifted its holdings in shares of Semtech by 900.0% during the 2nd 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 during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Semtech in the second quarter worth about $32,000. Banque Cantonale Vaudoise purchased a new stake in shares of Semtech during the first quarter worth about $33,000. IFP Advisors Inc acquired a new position in shares of Semtech during the fourth quarter valued at about $53,000. Finally, Allworth Financial LP purchased a new position in shares of Semtech in the 2nd quarter valued at approximately $55,000.

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.