Wall Street Zen upgraded shares of Semtech (NASDAQ:SMTC – Free Report) from a buy rating to a strong-buy rating in a report published on Saturday,Wall Street Zen reports.
A number of other equities research analysts have also issued reports on SMTC. Northland Securities upgraded shares of Semtech from a “market perform” rating to an “outperform” rating and set a $182.00 price target on the stock in a report on Thursday, August 27th. Craig Hallum lifted their price objective on shares of Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Roth Capital set a $220.00 target price on shares of Semtech in a research note on Wednesday, August 26th. Mizuho set a $225.00 target price on Semtech in a report on Wednesday, May 27th. Finally, Zacks Research cut Semtech from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 21st. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.71.
Read Our Latest Stock Report on SMTC
Semtech Stock Performance
Semtech (NASDAQ:SMTC – Get Free Report) last announced its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.10. The business had revenue of $341.87 million during the quarter, compared to analysts’ expectations of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The company’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the business posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Research analysts forecast that Semtech will post 2.63 EPS for the current fiscal year.
Insider Activity
In other Semtech news, COO Asaf Silberstein sold 8,500 shares of Semtech stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the completion of the sale, the chief operating officer owned 96,862 shares of the company’s stock, valued at $12,378,963.60. This trade represents a 8.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $294,093.60. Following the transaction, the executive vice president owned 8,611 shares in the company, valued at approximately $1,118,568.90. This represents a 20.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,734 shares of company stock valued at $3,133,986 in the last three months. 0.44% of the stock is currently owned by insiders.
Institutional Trading of Semtech
A number of institutional investors have recently bought and sold shares of the company. Corient Private Wealth LP grew its stake in Semtech by 4.0% in the second quarter. Corient Private Wealth LP now owns 3,147 shares of the semiconductor company’s stock valued at $515,000 after purchasing an additional 122 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Semtech during the 2nd quarter worth about $3,438,000. California State Teachers Retirement System raised its stake in shares of Semtech by 16,868.8% during the 2nd quarter. California State Teachers Retirement System now owns 17,446,944 shares of the semiconductor company’s stock worth $2,823,788,000 after purchasing an additional 17,344,126 shares in the last quarter. Greenland Capital Management LP acquired a new stake in shares of Semtech during the 2nd quarter valued at about $490,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Semtech during the 2nd quarter valued at about $3,343,000.
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.
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