Asaf Silberstein Sells 8,500 Shares of Semtech (NASDAQ:SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) COO Asaf Silberstein sold 8,500 shares of Semtech stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the transaction, the chief operating officer owned 96,862 shares in the company, valued at $12,378,963.60. This represents a 8.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Performance

Shares of NASDAQ:SMTC traded down $1.37 during midday trading on Friday, hitting $136.13. The company had a trading volume of 2,701,707 shares, compared to its average volume of 4,258,080. Semtech Corporation has a 12-month low of $46.02 and a 12-month high of $177.35. The company has a fifty day moving average of $147.85 and a two-hundred day moving average of $106.50. The company has a market cap of $12.68 billion, a price-to-earnings ratio of -349.05 and a beta of 2.31. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. Semtech’s revenue for the quarter was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, equities research analysts expect that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Analyst Ratings Changes

SMTC has been the topic of a number of recent analyst reports. Robert W. Baird raised their target price on shares of Semtech from $110.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. TD Cowen upped their price target on shares of Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Semtech in a research note on Thursday, June 18th. Susquehanna raised their price objective on shares of Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, May 27th. Finally, Stifel Nicolaus lifted their target price on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $189.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMTC. FNY Investment Advisers LLC raised its position in shares of Semtech by 900.0% during the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 180 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Semtech during the first quarter worth $33,000. IFP Advisors Inc bought a new position in shares of Semtech during the fourth quarter worth $53,000. Smartleaf Asset Management LLC grew its stake in Semtech by 24.1% during the second quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 247 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new position in Semtech during the fourth quarter valued at $60,000.

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.