Semtech (NASDAQ:SMTC) Stock Gets Price Target Trim from B. Riley Financial

Semtech (NASDAQ:SMTC) had its price target lowered by stock analysts at B. Riley Financial from $210.00 to $190.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley Financial‘s price target suggests a potential upside of 66.76% from the stock’s previous close.

Several other equities analysts have also commented on SMTC. New Street Research set a $230.00 price objective on Semtech in a research report on Thursday, August 20th. Zacks Research upgraded shares of Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. Roth Capital set a $220.00 target price on shares of Semtech in a research report on Wednesday, August 26th. UBS Group increased their price target on shares of Semtech from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Finally, Robert W. Baird lifted their price target on shares of Semtech from $225.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $212.00.

Semtech Stock Up 10.4%

Shares of NASDAQ:SMTC traded up $10.73 during trading on Monday, hitting $113.94. The stock had a trading volume of 365,254 shares, compared to its average volume of 2,904,087. The company has a market capitalization of $10.63 billion, a PE ratio of 75.54 and a beta of 2.50. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average is $155.15 and its 200 day moving average is $125.55. Semtech has a 12 month low of $60.28 and a 12 month high of $201.99.

Semtech (NASDAQ:SMTC) last released its quarterly 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. Semtech had a return on equity of 21.74% and a net margin of 13.11%. The company had revenue of $341.87 million for the quarter, compared to analyst estimates of $328.67 million. During the same period in the previous year, the company posted $0.41 earnings per share. The firm’s revenue was up 32.7% on a year-over-year basis. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Analysts anticipate that Semtech will post 2.80 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jason Elliot Green sold 2,766 shares of the firm’s stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total transaction of $526,508.10. Following the completion of the transaction, the executive vice president owned 7,367 shares of the company’s stock, valued at $1,402,308.45. This trade represents a 27.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rodolpho Cardenuto sold 5,321 shares of the firm’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. Insiders have sold a total of 14,237 shares of company stock worth $2,337,597 over the last three months. Corporate insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Semtech

Several institutional investors and hedge funds have recently modified their holdings of the stock. Andar Capital Management HK Ltd bought a new position in Semtech in the 2nd quarter worth about $162,000,000. BlackRock Inc. purchased a new stake in Semtech during the 2nd quarter valued at about $1,577,947,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Semtech by 396.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company’s stock valued at $136,298,000 after purchasing an additional 672,447 shares during the last quarter. Atreides Management LP purchased a new stake in Semtech during the 2nd quarter valued at about $89,214,000. Finally, Bank of New York Mellon Corp bought a new stake in Semtech during the 2nd quarter valued at about $87,725,000.

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.

Founded in 1960, Semtech serves customers around the world through its international operations and sales network.