Hong Hou Sells 2,000 Shares of Semtech (NASDAQ:SMTC) Stock

Key Points

• CEO Hong Hou sold 2,000 Semtech shares for approximately $277,420 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 3.18% to 60,799 shares.
• Semtech shares rose 0.8% to $163.94, while the company’s latest quarterly results exceeded expectations: EPS was $0.71 versus a $0.61 consensus estimate, and revenue increased 32.7% year over year to $341.87 million.
• Analysts maintain a “Moderate Buy” consensus, with 15 Buy, three Hold and one Sell rating and an average price target of $204.71.

Semtech Corporation (NASDAQ:SMTC - Get Free Report) CEO Hong Hou sold 2,000 shares of the business's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $138.71, for a total value of $277,420.00. Following the transaction, the chief executive officer owned 60,799 shares of the company's stock, valued at $8,433,429.29. The trade was a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Trading Up 0.8%

Shares of NASDAQ SMTC traded up $1.32 during midday trading on Wednesday, reaching $163.94. 3,370,809 shares of the stock were exchanged, compared to its average volume of 2,757,052. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31. Semtech Corporation has a 12 month low of $57.50 and a 12 month high of $177.35. The business has a 50-day simple moving average of $132.41 and a two-hundred day simple moving average of $121.99. The company has a market capitalization of $15.30 billion, a price-to-earnings ratio of 108.57 and a beta of 2.35.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The business had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.67 million. During the same quarter last year, the business posted $0.41 EPS. The firm's revenue was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, equities research analysts expect that Semtech Corporation will post 2.64 EPS for the current year.

Wall Street Analysts Forecast Growth

SMTC has been the subject of a number of research reports. Craig Hallum increased their target price on Semtech from $105.00 to $205.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Citigroup lowered shares of Semtech from a "buy" rating to a "market perform" rating in a research note on Tuesday, May 26th. BMO Capital Markets initiated coverage on shares of Semtech in a report on Wednesday, August 26th. They issued an "outperform" rating and a $155.00 price target for the company. Northland Securities raised shares of Semtech from a "market perform" rating to an "outperform" rating and set a $182.00 price objective for the company in a research report on Thursday, August 27th. Finally, Stifel Nicolaus raised their price objective on shares of Semtech from $157.00 to $188.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $204.71.

Institutional Trading of Semtech

A number of institutional investors have recently made changes to their positions in the business. Royce & Associates LP raised its holdings 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 period. Argos Wealth Advisors LLC bought a new stake in Semtech in the 4th quarter valued at $640,000. Geode Capital Management LLC increased its holdings in shares of Semtech by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company's stock valued at $154,704,000 after purchasing an additional 6,715 shares during the last quarter. Swiss National Bank raised its position in shares of Semtech by 6.9% in the first quarter. Swiss National Bank now owns 183,000 shares of the semiconductor company's stock valued at $14,071,000 after purchasing an additional 11,800 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new position in Semtech in the 2nd quarter valued at about $9,783,000.

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.

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