Paul Walsh, Jr. Sells 500 Shares of Semtech (NASDAQ:SMTC) Stock

Semtech Corporation (NASDAQ:SMTC) Director Paul Walsh, Jr. sold 500 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $164.99, for a total value of $82,495.00. Following the completion of the sale, the director directly owned 28,100 shares in the company, valued at $4,636,219. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Down 7.7%

SMTC stock opened at $149.75 on Friday. The firm has a 50-day moving average price of $140.43 and a 200-day moving average price of $101.91. Semtech Corporation has a 12 month low of $42.38 and a 12 month high of $177.35. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $13.95 billion, a P/E ratio of -383.97 and a beta of 2.32.

Semtech (NASDAQ:SMTC) last announced 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. The company had revenue of $291.02 million for 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%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, equities research analysts anticipate that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Semtech

Several institutional investors and hedge funds have recently made changes to their positions in SMTC. Royce & Associates LP boosted its stake in shares of Semtech by 144.5% in the 4th quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock valued at $7,930,000 after purchasing an additional 63,603 shares during the last quarter. Argos Wealth Advisors LLC acquired a new position in Semtech in the fourth quarter valued at $640,000. GW&K Investment Management LLC acquired a new position in Semtech in the third quarter valued at $27,125,000. Atreides Management LP grew its holdings in Semtech by 2.4% during the 3rd quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company’s stock worth $48,453,000 after acquiring an additional 16,192 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Semtech by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock worth $154,704,000 after acquiring an additional 6,715 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SMTC shares. Northland Securities downgraded Semtech from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Mizuho set a $225.00 price target on Semtech in a research note on Wednesday, May 27th. Stifel Nicolaus boosted their price target on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Citigroup lowered shares of Semtech from a “buy” rating to a “market perform” rating in a report on Tuesday, May 26th. Finally, Susquehanna lifted their target price on shares of Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Semtech has an average rating of “Moderate Buy” and a consensus price target 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.