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

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

Semtech Trading Down 1.0%

Shares of SMTC traded down $1.37 during mid-day trading on Friday, hitting $136.13. The company had a trading volume of 2,699,672 shares, compared to its average volume of 2,752,437. The business’s 50-day simple moving average is $147.10 and its 200-day simple moving average is $106.29. 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 Corporation has a 1-year low of $46.02 and a 1-year high of $177.35. The stock has a market cap of $12.68 billion, a PE ratio of -349.05 and a beta of 2.31.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Sell-side analysts forecast that Semtech Corporation will post 1.81 earnings per share for the current year.

Analyst Ratings Changes

SMTC has been the topic of several research reports. Morgan Stanley increased their target price on Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Citigroup downgraded Semtech from a “buy” rating to a “market perform” rating in a research report on Tuesday, May 26th. Oppenheimer set a $200.00 price objective on Semtech in a report on Wednesday, May 27th. UBS Group lifted their price objective on Semtech from $165.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Stifel Nicolaus boosted their price objective on shares of Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.07.

Institutional Trading of Semtech

A number of hedge funds have recently made changes to their positions in SMTC. FNY Investment Advisers LLC increased its stake in shares of Semtech by 900.0% in the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after buying an additional 180 shares during the last quarter. Allied Private Wealth LLC bought a new position in Semtech during the 2nd quarter valued at $65,000. Banque Cantonale Vaudoise acquired a new position in Semtech during the 1st quarter worth $33,000. IFP Advisors Inc acquired a new position in Semtech during the 4th quarter worth $53,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Semtech in the 4th quarter worth about $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.