Semtech (NASDAQ:SMTC – Free Report) had its price objective trimmed by B. Riley Financial from $210.00 to $190.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.
Several other research firms also recently issued reports on SMTC. Oppenheimer lifted their price objective on Semtech from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, October 1st. BMO Capital Markets increased their target price on Semtech from $155.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, October 13th. Northland Securities raised shares of Semtech from a “market perform” rating to an “outperform” rating and set a $186.00 price target for the company in a research report on Friday, October 16th. Robert W. Baird raised their price target on shares of Semtech from $225.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Finally, Zacks Research upgraded shares of Semtech from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.
Check Out Our Latest Analysis on SMTC
Semtech Price Performance
SMTC opened at $125.22 on Monday. The company has a fifty day simple moving average of $154.33 and a 200 day simple moving average of $126.12. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 82.93 and a beta of 2.50. Semtech has a twelve month low of $60.28 and a twelve month high of $201.99. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47.
Semtech (NASDAQ:SMTC – Get Free Report) last released its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.10. The firm had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities research analysts expect that Semtech will post 2.80 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Julie Ruehl sold 1,500 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $145.00, for a total value of $217,500.00. Following the completion of the sale, the director directly owned 7,140 shares of the company’s stock, valued at $1,035,300. The trade was a 17.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rodolpho Cardenuto sold 5,321 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $165.00, for a total value of $877,965.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 14,237 shares of company stock valued at $2,337,597. 0.44% of the stock is owned by company insiders.
Institutional Investors Weigh In On Semtech
A number of institutional investors have recently made changes to their positions in SMTC. Canada Pension Plan Investment Board acquired a new stake in shares of Semtech during the second quarter worth $39,313,000. Osterweis Capital Management Inc. bought a new position in shares of Semtech in the 2nd quarter worth about $9,783,000. Swiss National Bank lifted its position in shares of Semtech by 6.9% in the 1st quarter. Swiss National Bank now owns 183,000 shares of the semiconductor company’s stock worth $14,071,000 after buying an additional 11,800 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Semtech by 56.3% in 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 buying an additional 196,734 shares during the period. Finally, Nicholas Investment Partners LP acquired a new position in shares of Semtech in the 2nd quarter valued at about $13,673,000.
About Semtech
Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems. The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.
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