Insider Selling: Semtech (NASDAQ:SMTC) EVP Sells $294,093.60 in Stock

Semtech Corporation (NASDAQ:SMTC) EVP Jason Elliot Green sold 2,264 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total transaction of $294,093.60. Following the completion of the transaction, the executive vice president directly owned 8,611 shares of the company’s stock, valued at approximately $1,118,568.90. The trade was a 20.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Price Performance

Shares of NASDAQ SMTC traded down $1.37 during midday trading on Friday, reaching $136.13. 2,701,707 shares of the company were exchanged, compared to its average volume of 4,258,080. The stock’s 50-day moving average price is $147.85 and its 200-day moving average price is $106.50. The stock has a market cap of $12.68 billion, a P/E ratio of -349.05 and a beta of 2.31. Semtech Corporation has a one year low of $46.02 and a one year high of $177.35. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating 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 prior year, the company earned $0.38 EPS. Semtech’s revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, sell-side analysts anticipate that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on SMTC shares. Zacks Research upgraded Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Oppenheimer set a $200.00 target price on shares of Semtech in a research report on Wednesday, May 27th. Benchmark boosted their target price on shares of Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. Finally, Susquehanna raised their price target on shares of Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $189.07.

Institutional Trading of Semtech

Several institutional investors have recently added to or reduced their stakes in SMTC. Vanguard Group Inc. lifted its position in shares of Semtech by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock worth $873,842,000 after purchasing an additional 298,987 shares during the period. Ameriprise Financial Inc. increased its position in shares of Semtech by 3.7% during the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock worth $526,861,000 after buying an additional 261,647 shares during the period. Capital Research Global Investors raised its stake in Semtech by 13.9% during the third quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock worth $335,220,000 after buying an additional 571,372 shares during the last quarter. State Street Corp lifted its holdings in Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after buying an additional 60,788 shares during the period. Finally, Whale Rock Capital Management LLC lifted its holdings in Semtech by 11.3% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock valued at $287,499,000 after buying an additional 396,504 shares during the period.

Semtech Company Profile

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.