Analysts Set Semtech Corporation (NASDAQ:SMTC) PT at $189.07

Shares of Semtech Corporation (NASDAQ:SMTC) have earned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $189.0667.

A number of brokerages have issued reports on SMTC. Oppenheimer set a $200.00 price objective on Semtech in a research note on Wednesday, May 27th. Benchmark lifted 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. Robert W. Baird boosted their price target on shares of Semtech from $110.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Mizuho set a $225.00 price target on shares of Semtech in a research report on Wednesday, May 27th. Finally, UBS Group increased their price target on shares of Semtech from $165.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th.

Semtech Price Performance

Semtech stock opened at $138.68 on Friday. Semtech has a 52 week low of $46.02 and a 52 week high of $177.35. The company’s 50 day moving average price is $149.27 and its two-hundred day moving average price is $110.41. The stock has a market cap of $12.92 billion, a P/E ratio of -355.59 and a beta of 2.31. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86.

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

Insider Transactions at Semtech

In other news, insider John Michael Wilson sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $170.00, for a total transaction of $935,000.00. Following the completion of the sale, the insider owned 80,876 shares in the company, valued at $13,748,920. This trade represents a 6.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Lin sold 970 shares of Semtech stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total transaction of $145,897.70. Following the completion of the sale, the chief financial officer directly owned 34,896 shares in the company, valued at $5,248,707.36. This trade represents a 2.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 22,234 shares of company stock valued at $3,203,091. Corporate insiders own 0.44% of the company’s stock.

Institutional Trading of Semtech

Several hedge funds have recently made changes to their positions in SMTC. FNY Investment Advisers LLC grew its stake in shares of Semtech by 900.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 180 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Semtech in the 1st quarter worth about $33,000. IFP Advisors Inc bought a new stake in Semtech in the 4th quarter valued at about $53,000. Smartleaf Asset Management LLC raised its stake in Semtech by 24.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 247 shares during the period. Finally, Sound Income Strategies LLC purchased a new stake in Semtech during the fourth quarter valued at about $60,000.

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.