Semtech (NASDAQ:SMTC) Hits New 12-Month High – What’s Next?

Semtech Corporation (NASDAQ:SMTC) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $81.39 and last traded at $78.86, with a volume of 101197 shares trading hands. The stock had previously closed at $79.68.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMTC. Cowen began coverage on Semtech in a research report on Tuesday, September 30th. They issued a “buy” rating on the stock. Susquehanna lifted their price target on shares of Semtech from $65.00 to $80.00 and gave the stock a “positive” rating in a research note on Tuesday, November 18th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 price objective on shares of Semtech in a research note on Tuesday, November 25th. Roth Capital raised their price objective on shares of Semtech from $65.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Finally, Morgan Stanley set a $67.00 target price on shares of Semtech in a research note on Tuesday, November 25th. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

Semtech Trading Down 0.5%

The firm’s fifty day moving average price is $72.79 and its 200-day moving average price is $63.13. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 254.86 and a beta of 2.01. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.43 and a quick ratio of 1.71.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, November 24th. The semiconductor company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Semtech had a net margin of 2.77% and a return on equity of 17.00%. The business had revenue of $266.97 million for the quarter, compared to analysts’ expectations of $266.36 million. During the same quarter last year, the company earned $0.26 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. On average, equities analysts expect that Semtech Corporation will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Saar Gillai sold 3,600 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $75.26, for a total value of $270,936.00. Following the completion of the transaction, the director owned 9,523 shares of the company’s stock, valued at approximately $716,700.98. This represents a 27.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Michael Wilson sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $75.12, for a total value of $375,600.00. Following the transaction, the insider directly owned 60,066 shares in the company, valued at $4,512,157.92. This trade represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,933 shares of company stock valued at $817,036 in the last quarter. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Semtech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Westfield Capital Management Co. LP increased its stake in Semtech by 107.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 2,747,260 shares of the semiconductor company’s stock valued at $124,011,000 after buying an additional 1,424,909 shares during the period. Think Investments LP bought a new stake in Semtech during the third quarter worth approximately $58,618,000. Ameriprise Financial Inc. raised its holdings in Semtech by 10.3% during the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after purchasing an additional 666,456 shares in the last quarter. Atreides Management LP acquired a new stake in Semtech in the second quarter worth approximately $29,880,000. Finally, Hood River Capital Management LLC boosted its stake in Semtech by 36.0% during the 2nd quarter. Hood River Capital Management LLC now owns 2,244,631 shares of the semiconductor company’s stock valued at $101,323,000 after purchasing an additional 594,529 shares in the last quarter.

About Semtech

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.