Semtech (NASDAQ:SMTC) Director Rodolpho Cardenuto Sells 5,321 Shares of Stock

Semtech Corporation (NASDAQ:SMTC) Director Rodolpho Cardenuto sold 5,321 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $165.00, for a total value of $877,965.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Semtech Trading Up 3.8%

Semtech stock opened at $185.00 on Friday. The business has a 50-day simple moving average of $137.08 and a two-hundred day simple moving average of $126.01. The company has a market cap of $17.27 billion, a P/E ratio of 122.52 and a beta of 2.35. Semtech Corporation has a 52-week low of $57.50 and a 52-week high of $185.46. 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 (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.10. The firm had revenue of $341.87 million for 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 quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Analysts predict that Semtech Corporation will post 2.64 EPS for the current year.

Hedge Funds Weigh In On Semtech

Several large investors have recently added to or reduced their stakes in SMTC. Andar Capital Management HK Ltd bought a new stake in shares of Semtech during the 2nd quarter valued at $162,000,000. BlackRock Inc. bought a new position in Semtech in the 2nd quarter worth $1,577,947,000. Geode Capital Management LLC boosted its holdings in Semtech by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock worth $154,704,000 after buying an additional 6,715 shares during the period. Fred Alger Management LLC increased its stake in Semtech by 12.0% in the 4th 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Semtech by 396.3% in the 2nd 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.

Analysts Set New Price Targets

SMTC has been the topic of several analyst reports. Mizuho set a $225.00 price target on shares of Semtech in a research note on Wednesday, May 27th. Morgan Stanley upped their price objective on Semtech from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 26th. Oppenheimer set a $200.00 target price on Semtech in a report on Wednesday, May 27th. Northland Securities upgraded Semtech from a “market perform” rating to an “outperform” rating and set a $182.00 target price on the stock in a research report on Thursday, August 27th. Finally, Craig Hallum boosted their price target on Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.71.

About Semtech

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and technology company that designs and supplies analog and mixed-signal products. Its solutions are used to manage, protect, connect and process electronic signals in infrastructure, data centers, industrial systems, automotive applications, consumer devices and communications equipment.

The company’s portfolio includes signal-integrity and connectivity products, power-management and protection devices, wireless and radio-frequency solutions, and specialized semiconductors.