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

Semtech Corporation (NASDAQ:SMTC) CEO Hong Hou sold 2,000 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $138.71, for a total transaction of $277,420.00. Following the sale, the chief executive officer directly owned 60,799 shares of the company’s stock, valued at $8,433,429.29. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Stock Performance

Semtech stock opened at $159.13 on Friday. Semtech Corporation has a fifty-two week low of $57.50 and a fifty-two week high of $177.35. The firm’s 50 day simple moving average is $133.22 and its 200-day simple moving average is $123.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31. The company has a market cap of $14.85 billion, a P/E ratio of 105.38 and a beta of 2.35.

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

Hedge Funds Weigh In On Semtech

A number of hedge funds have recently modified their holdings of SMTC. FNY Investment Advisers LLC raised its holdings in shares of Semtech by 900.0% during the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 180 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Semtech in the second quarter valued at about $32,000. Banque Cantonale Vaudoise purchased a new position in Semtech in the first quarter valued at about $33,000. IFP Advisors Inc acquired a new position in Semtech in the 4th quarter worth about $53,000. Finally, Allworth Financial LP acquired a new position in Semtech in the 2nd quarter worth about $55,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SMTC. Citigroup downgraded Semtech from a “buy” rating to a “market perform” rating in a report on Tuesday, May 26th. Roth Capital set a $220.00 price objective on Semtech in a research report on Wednesday, August 26th. Benchmark reaffirmed a “buy” rating on shares of Semtech in a research note on Thursday, August 20th. Morgan Stanley upped their target price on Semtech from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Wednesday, August 26th. Finally, Mizuho set a $225.00 price target on shares of Semtech in a research report on Wednesday, May 27th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.71.

Semtech Company Profile

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.