Insider Selling: Semtech (NASDAQ:SMTC) CEO Sells 2,000 Shares of Stock

Semtech Corporation (NASDAQ:SMTC) CEO Hong Hou sold 2,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $162.10, for a total value of $324,200.00. Following the completion of the transaction, the chief executive officer directly owned 69,228 shares of the company’s stock, valued at approximately $11,221,858.80. This trade represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Price Performance

Shares of NASDAQ SMTC traded down $1.27 during trading on Tuesday, reaching $157.52. The company had a trading volume of 4,049,478 shares, compared to its average volume of 2,433,132. Semtech Corporation has a twelve month low of $39.07 and a twelve month high of $172.35. The stock has a market capitalization of $14.67 billion, a PE ratio of -403.90 and a beta of 2.32. The stock has a 50-day moving average price of $118.70 and a two-hundred day moving average price of $93.31. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $291.02 million during the quarter, compared to analysts’ expectations of $283.53 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, sell-side analysts predict that Semtech Corporation will post 1.6 earnings per share for the current year.

Hedge Funds Weigh In On Semtech

Several institutional investors have recently added to or reduced their stakes in the business. Argos Wealth Advisors LLC purchased a new stake in Semtech during the fourth quarter valued at about $640,000. Royce & Associates LP grew its position in Semtech by 144.5% during the fourth quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock valued at $7,930,000 after acquiring an additional 63,603 shares during the period. Hodges Capital Management Inc. purchased a new stake in Semtech during the third quarter valued at about $4,624,000. GW&K Investment Management LLC purchased a new stake in Semtech during the third quarter valued at about $27,125,000. Finally, Atreides Management LP grew its position in Semtech by 2.4% during the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company’s stock valued at $48,453,000 after acquiring an additional 16,192 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SMTC shares. Benchmark boosted their price target on Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Morgan Stanley boosted their price target on Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Roth Mkm upped their target price on Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Needham & Company LLC upped their target price on Semtech from $105.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Stifel Nicolaus upped their target price on Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.73.

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.