Insider Selling: Semtech (NASDAQ:SMTC) Director Sells 500 Shares of Stock

Key Points

• Semtech Director Paul Walsh Jr. sold 500 shares for approximately $69,720 at an average price of $139.44, reducing his ownership by 1.88% to 26,100 shares. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
• Semtech’s shares recently traded at $132, up 5.5% during the session. The company’s latest quarterly results exceeded expectations, with EPS of $0.71 versus the $0.61 consensus and revenue rising 32.7% year over year.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $213.11; major institutional investors have also recently established or increased positions.

Semtech Corporation (NASDAQ:SMTC - Get Free Report) Director Paul Walsh, Jr. sold 500 shares of the business's stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $139.44, for a total transaction of $69,720.00. Following the transaction, the director owned 26,100 shares in the company, valued at approximately $3,639,384. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Up 5.5%

SMTC stock traded up $6.88 during trading on Friday, reaching $132.00. The stock had a trading volume of 2,939,389 shares, compared to its average volume of 2,888,444. Semtech Corporation has a one year low of $60.28 and a one year high of $201.99. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47. The company's 50 day moving average is $157.15 and its two-hundred day moving average is $141.26. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 87.42 and a beta of 2.41.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.61 by $0.10. The firm had revenue of $341.87 million during the quarter, compared to analyst estimates of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The company's revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities research analysts forecast that Semtech Corporation will post 2.80 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SMTC. Needham & Company LLC restated a "buy" rating and set a $200.00 price objective on shares of Semtech in a report on Wednesday, August 26th. TD Cowen reiterated a "buy" rating and issued a $215.00 price objective on shares of Semtech in a research note on Friday, October 16th. Stifel Nicolaus dropped their price objective on shares of Semtech from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, October 16th. Roth Capital set a $220.00 price objective on shares of Semtech in a research note on Wednesday, August 26th. Finally, Weiss Ratings upgraded Semtech from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $213.11.

Hedge Funds Weigh In On Semtech

A number of large investors have recently modified their holdings of SMTC. BlackRock Inc. bought a new stake in Semtech during the 2nd quarter worth approximately $1,577,947,000. ABS Investment Management LLC bought a new position in Semtech in the 2nd quarter valued at $178,035,000. Andar Capital Management HK Ltd bought a new position in Semtech in the 2nd quarter valued at $162,000,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Semtech by 396.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company's stock valued at $136,298,000 after purchasing an additional 672,447 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Semtech by 56.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 546,422 shares of the semiconductor company's stock valued at $97,454,000 after purchasing an additional 196,734 shares in the last quarter.

About Semtech

Semtech Corporation NASDAQ: SMTC is a global semiconductor and infrastructure technology company that develops analog and mixed-signal products for communications, industrial, data center, consumer, and automotive applications. Its portfolio is designed to improve connectivity, power efficiency, signal integrity, and protection in electronic systems.

The company's products include high-speed connectivity solutions for data centers and communications networks, power management and protection devices, signal integrity components, and wireless and radio-frequency technologies.

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