Semtech Corporation (NASDAQ:SMTC - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $127.65, but opened at $118.61. Semtech shares last traded at $121.1260, with a volume of 584,902 shares changing hands.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on SMTC. Needham & Company LLC reissued a "buy" rating and set a $200.00 price objective on shares of Semtech in a report on Monday. TD Cowen raised their target price on shares of Semtech from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Robert W. Baird lifted their price target on shares of Semtech from $110.00 to $225.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Stifel Nicolaus increased their price objective on shares of Semtech from $157.00 to $188.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Finally, Zacks Research raised shares of Semtech from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Semtech has an average rating of "Moderate Buy" and an average target price of $189.07.
Read Our Latest Report on SMTC
Semtech Trading Down 1.9%
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 company has a market capitalization of $11.66 billion, a P/E ratio of -318.45 and a beta of 2.31. The business has a 50 day moving average price of $149.41 and a 200 day moving average price of $108.37.
Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The business had revenue of $291.02 million for the quarter, compared to analyst estimates of $283.53 million. During the same quarter last year, the firm earned $0.38 EPS. Semtech's quarterly revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Analysts anticipate that Semtech Corporation will post 1.81 EPS for the current year.
Insider Activity at Semtech
In other news, EVP Jason Elliot Green sold 2,264 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 8,611 shares of the company's stock, valued at $1,118,568.90. The trade was a 20.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total transaction of $145,897.70. Following the completion of the sale, the chief financial officer owned 34,896 shares of the company's stock, valued at approximately $5,248,707.36. This represents a 2.70% 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. Over the last quarter, insiders sold 22,734 shares of company stock valued at $3,256,056. 0.48% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMTC. Think Investments LP acquired a new stake in shares of Semtech during the third quarter worth about $58,618,000. Ameriprise Financial Inc. grew its position in shares of Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company's stock valued at $321,040,000 after purchasing an additional 666,456 shares during the period. Atreides Management LP acquired a new position in shares of Semtech in the 2nd quarter valued at approximately $29,880,000. Assenagon Asset Management S.A. increased its stake in Semtech by 323.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 781,003 shares of the semiconductor company's stock worth $60,051,000 after purchasing an additional 596,373 shares in the last quarter. Finally, Capital International Investors bought a new stake in Semtech during the 4th quarter worth approximately $39,593,000.
Semtech Company Profile
(
Get Free Report)
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.
Further Reading
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