Semtech (NASDAQ:SMTC) Upgraded by BMO Capital Markets to Strong-Buy Rating

Semtech (NASDAQ:SMTC) was upgraded by stock analysts at BMO Capital Markets to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other analysts also recently weighed in on SMTC. Roth Capital boosted their price target on Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Northland Securities cut Semtech from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. UBS Group raised their price objective on Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. TD Cowen lifted their target price on Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Oppenheimer set a $200.00 target price on Semtech in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.47.

Semtech Trading Down 0.6%

NASDAQ:SMTC opened at $124.09 on Thursday. Semtech has a 12 month low of $49.04 and a 12 month high of $177.35. The firm has a fifty day simple moving average of $137.87 and a 200-day simple moving average of $117.45. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $11.56 billion, a P/E ratio of -318.18 and a beta of 2.35.

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

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 970 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total value of $145,897.70. Following the sale, the chief financial officer directly owned 34,896 shares of the company’s stock, valued at approximately $5,248,707.36. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $133.00, for a total value of $266,000.00. Following the sale, the chief executive officer directly owned 64,799 shares in the company, valued at $8,618,267. This represents a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 over the last ninety days. Corporate insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SMTC. FNY Investment Advisers LLC lifted its holdings in Semtech by 900.0% in the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 180 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Semtech during the 2nd quarter worth approximately $32,000. Banque Cantonale Vaudoise purchased a new position in shares of Semtech during the 1st quarter valued at approximately $33,000. IFP Advisors Inc purchased a new position in shares of Semtech during the 4th quarter valued at approximately $53,000. Finally, Allworth Financial LP acquired a new position in shares of Semtech in the 2nd quarter valued at $55,000.

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.