Semtech (NASDAQ:SMTC) Stock Price Down 5.1% – What’s Next?

Semtech Co. (NASDAQ:SMTC)’s stock price traded down 5.1% during mid-day trading on Thursday . The stock traded as low as $68.20 and last traded at $68.82. 913,254 shares were traded during mid-day trading, a decline of 38% from the average session volume of 1,477,190 shares. The stock had previously closed at $72.51.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $75.00 target price (up from $60.00) on shares of Semtech in a research note on Tuesday, November 26th. UBS Group initiated coverage on shares of Semtech in a research report on Friday. They set a “buy” rating and a $85.00 price objective for the company. Susquehanna increased their price target on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. B. Riley lifted their price target on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Roth Mkm upped their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.09.

Semtech Trading Up 8.8 %

The company has a market cap of $5.68 billion, a P/E ratio of -5.75 and a beta of 1.65. The company has a 50 day moving average price of $61.68 and a 200-day moving average price of $47.07.

Semtech (NASDAQ:SMTC) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The firm had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 17.9% on a year-over-year basis.

Insider Activity

In related news, COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the transaction, the chief operating officer now directly owns 76,417 shares of the company’s stock, valued at $5,349,190. This trade represents a 2.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Lin sold 6,114 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total value of $401,934.36. Following the completion of the sale, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. The trade was a 63.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,419 shares of company stock worth $816,955. Insiders own 0.60% of the company’s stock.

Institutional Trading of Semtech

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC increased its position in shares of Semtech by 119.7% during the fourth quarter. Inspire Investing LLC now owns 22,053 shares of the semiconductor company’s stock worth $1,364,000 after buying an additional 12,016 shares during the period. SG Americas Securities LLC raised its position in shares of Semtech by 643.7% in the 4th quarter. SG Americas Securities LLC now owns 57,316 shares of the semiconductor company’s stock worth $3,545,000 after acquiring an additional 49,609 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Semtech by 12.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,788 shares of the semiconductor company’s stock valued at $482,000 after purchasing an additional 870 shares in the last quarter. Oak Ridge Investments LLC acquired a new stake in Semtech during the fourth quarter worth approximately $2,146,000. Finally, Friedenthal Financial bought a new stake in Semtech in the fourth quarter worth approximately $755,000.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.