Semtech (NASDAQ:SMTC) Stock Price Down 7.6% – What’s Next?

Semtech Corporation (NASDAQ:SMTC)’s share price fell 7.6% during trading on Monday . The stock traded as low as $151.32 and last traded at $154.5050. Approximately 430,377 shares traded hands during trading, a decline of 84% from the average session volume of 2,739,300 shares. The stock had previously closed at $167.24.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Citigroup lowered shares of Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. Zacks Research downgraded shares of Semtech from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Needham & Company LLC reissued a “buy” rating and set a $200.00 price objective on shares of Semtech in a report on Wednesday, August 26th. UBS Group boosted their target price on shares of Semtech from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Finally, Benchmark reaffirmed a “buy” rating on shares of Semtech in a research report on Thursday, August 20th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $204.71.

Semtech Stock Performance

The stock has a 50 day moving average of $133.86 and a 200 day moving average of $123.62. The stock has a market capitalization of $14.00 billion, a P/E ratio of 99.14 and a beta of 2.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.10. The business had revenue of $341.87 million during the quarter, compared to the consensus estimate of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The business’s revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities analysts predict that Semtech Corporation will post 2.64 EPS for the current year.

Insiders Place Their Bets

In other Semtech news, 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 value of $294,093.60. Following the completion of the sale, the executive vice president owned 8,611 shares in the company, valued at $1,118,568.90. This represents a 20.82% decrease in their position. 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. Also, COO Asaf Silberstein sold 8,500 shares of Semtech stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total value of $1,086,300.00. Following the sale, the chief operating officer directly owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. The trade was a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,234 shares of company stock valued at $3,304,706 over the last quarter. 0.44% of the stock is owned by insiders.

Institutional Investors Weigh In On Semtech

Hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC lifted its holdings in shares of Semtech by 900.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 180 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Semtech in the second quarter worth about $32,000. Banque Cantonale Vaudoise acquired a new stake in Semtech during the first quarter valued at approximately $33,000. IFP Advisors Inc bought a new position in shares of Semtech in the fourth quarter valued at approximately $53,000. Finally, Allworth Financial LP acquired a new position in shares of Semtech in the 2nd quarter worth approximately $55,000.

About Semtech

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and technology company that designs and supplies analog and mixed-signal products. Its solutions are used to manage, protect, connect and process electronic signals in infrastructure, data centers, industrial systems, automotive applications, consumer devices and communications equipment.

The company’s portfolio includes signal-integrity and connectivity products, power-management and protection devices, wireless and radio-frequency solutions, and specialized semiconductors.