Semtech (NASDAQ:SMTC) Stock: Insider Jason Elliot Green Sells 2,766 Shares

Semtech Corporation (NASDAQ:SMTC) EVP Jason Elliot Green sold 2,766 shares of the stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total value of $526,508.10. Following the completion of the sale, the executive vice president directly owned 7,367 shares of the company’s stock, valued at approximately $1,402,308.45. This trade represents a 27.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Down 0.1%

Shares of NASDAQ SMTC traded down $0.19 during trading on Friday, hitting $187.30. The stock had a trading volume of 2,508,846 shares, compared to its average volume of 2,813,533. The firm has a fifty day moving average of $152.80 and a two-hundred day moving average of $136.04. The company has a market capitalization of $17.48 billion, a PE ratio of 124.04 and a beta of 2.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31. Semtech Corporation has a 12 month low of $60.28 and a 12 month high of $201.99.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.10. The business had revenue of $341.87 million for the quarter, compared to analyst estimates of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%.Semtech’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, equities research analysts forecast that Semtech Corporation will post 2.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SMTC has been the subject of several analyst reports. Seaport Research Partners assumed coverage on shares of Semtech in a report on Tuesday, September 22nd. They issued a “buy” rating and a $200.00 price objective for the company. Zacks Research upgraded Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 21st. Stifel Nicolaus raised their price target on Semtech from $188.00 to $220.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price target on shares of Semtech in a research report on Wednesday, August 26th. Finally, Roth Capital set a $220.00 price objective on Semtech in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $208.06.

Institutional Investors Weigh In On Semtech

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Semtech by 23.3% during the third quarter. GAMMA Investing LLC now owns 6,045 shares of the semiconductor company’s stock valued at $1,078,000 after acquiring an additional 1,142 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Semtech by 116.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,066 shares of the semiconductor company’s stock worth $725,000 after purchasing an additional 2,189 shares in the last quarter. Toth Financial Advisory Corp purchased a new stake in shares of Semtech in the 3rd quarter worth about $624,000. Whalen Wealth Management Inc. bought a new stake in shares of Semtech during the 3rd quarter valued at about $253,000. Finally, Cim Investment Management Inc. purchased a new stake in Semtech in the second quarter worth about $319,000.

About Semtech

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.