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

Shares of Semtech Corporation (NASDAQ:SMTC) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $175.28 and last traded at $172.5520, with a volume of 22840 shares traded. The stock had previously closed at $166.71.

Analyst Upgrades and Downgrades

SMTC has been the subject of several recent analyst reports. Morgan Stanley lifted their price target on Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Citigroup cut Semtech from a “buy” rating to a “market perform” rating in a research report on Tuesday, May 26th. Benchmark upped their target price on Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. TD Cowen reissued a “buy” rating on shares of Semtech in a research note on Tuesday, February 24th. Finally, Roth Mkm boosted their price target on shares of Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.73.

Semtech Stock Up 3.3%

The business has a fifty day simple moving average of $125.55 and a 200 day simple moving average of $95.99. The firm has a market cap of $16.04 billion, a price-to-earnings ratio of -441.58 and a beta of 2.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. The firm had revenue of $291.02 million during the quarter, compared to analysts’ expectations of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, equities analysts forecast that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Jason Elliot Green sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $81.73, for a total transaction of $612,975.00. Following the completion of the sale, the executive vice president owned 8,811 shares of the company’s stock, valued at approximately $720,123.03. This represents a 45.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Burvill sold 2,500 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $88.98, for a total transaction of $222,450.00. Following the completion of the sale, the director owned 4,409 shares of the company’s stock, valued at approximately $392,312.82. The trade was a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 25,660 shares of company stock valued at $2,268,140. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Semtech

Large investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise purchased a new position in Semtech during the first quarter worth approximately $33,000. AlphaQuest LLC boosted its position in shares of Semtech by 42.5% during the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 173 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Semtech by 65.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 235 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Semtech by 1,745.5% in the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 576 shares during the period. Finally, IFP Advisors Inc purchased a new stake in shares of Semtech in the fourth quarter valued at about $53,000.

Semtech Company Profile

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.