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 company’s stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total transaction of $526,508.10. Following the completion of the transaction, the executive vice president directly owned 7,367 shares in the company, valued at $1,402,308.45. This trade represents a 27.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Down 0.1%

SMTC traded down $0.19 during trading on Friday, reaching $187.30. 2,508,846 shares of the stock traded hands, compared to its average volume of 2,813,533. The stock’s 50-day simple moving average is $152.80 and its two-hundred day simple moving average is $136.04. 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 fifty-two week low of $60.28 and a fifty-two week high of $201.99. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 124.04 and a beta of 2.41.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.10. The business had revenue of $341.87 million during 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%.The firm’s revenue was up 32.7% on a year-over-year basis. 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. As a group, equities research analysts expect that Semtech Corporation will post 2.64 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Andar Capital Management HK Ltd bought a new stake in Semtech in the 2nd quarter valued at about $162,000,000. BlackRock Inc. acquired a new stake in Semtech in the second quarter valued at approximately $1,577,947,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Semtech by 396.3% in 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 valued at $136,298,000 after acquiring an additional 672,447 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Semtech by 323.0% during the first 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 in the last quarter. Finally, Atreides Management LP acquired a new position in shares of Semtech during the second quarter worth approximately $89,214,000.

Analyst Ratings Changes

SMTC has been the subject of several recent analyst reports. Roth Capital set a $220.00 price target on Semtech in a research note on Wednesday, August 26th. UBS Group raised their price objective on Semtech from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Robert W. Baird increased their target price on Semtech from $225.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price objective on shares of Semtech in a research note on Wednesday, August 26th. Finally, Zacks Research upgraded shares of Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.06.

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.