Mark Lin Sells 970 Shares of Semtech (NASDAQ:SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) CFO Mark Lin sold 970 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total value of $145,897.70. Following the sale, the chief financial officer directly owned 34,896 shares in the company, valued at approximately $5,248,707.36. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Trading Down 9.0%

SMTC stock opened at $126.40 on Wednesday. Semtech Corporation has a 1-year low of $42.71 and a 1-year high of $177.35. The business has a 50 day simple moving average of $145.68 and a two-hundred day simple moving average of $105.43. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of -324.10 and a beta of 2.31.

Semtech (NASDAQ:SMTC) last issued its 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. The firm had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. Semtech’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Research analysts anticipate that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Institutional Trading of Semtech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in shares of Semtech during the first quarter valued at approximately $33,000. IFP Advisors Inc purchased a new stake in shares of Semtech in the fourth quarter worth approximately $53,000. Smartleaf Asset Management LLC lifted its stake in shares of Semtech by 24.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 247 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Semtech during the 4th quarter worth approximately $60,000. Finally, NewEdge Advisors LLC boosted its holdings in Semtech by 1,215.4% during the 3rd quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 790 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SMTC shares. Roth Capital increased their price target on Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Mizuho set a $225.00 price objective on Semtech in a research note on Wednesday, May 27th. UBS Group upped their price objective on Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Oppenheimer set a $200.00 target price on Semtech in a research report on Wednesday, May 27th. Finally, B. Riley Financial raised their target price on shares of Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.07.

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.