Semtech (NASDAQ:SMTC) Stock Rating Upgraded by Zacks Research

Semtech (NASDAQ:SMTC) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. B. Riley Financial boosted their price target on Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Northland Securities cut Semtech from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. UBS Group boosted their target price on Semtech from $165.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Roth Mkm upped their target price on Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Benchmark lifted their price target on shares of Semtech from $120.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Semtech presently has an average rating of “Moderate Buy” and an average price target of $189.07.

Semtech Trading Up 3.7%

Shares of SMTC opened at $161.85 on Monday. The stock has a market capitalization of $15.08 billion, a P/E ratio of -415.00 and a beta of 2.32. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $142.59 and a two-hundred day simple moving average of $103.18. Semtech has a twelve month low of $42.38 and a twelve month high of $177.35.

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

Insider Transactions at Semtech

In other news, Director Paul V. Walsh, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total value of $82,495.00. Following the completion of the transaction, the director owned 28,100 shares in the company, valued at $4,636,219. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Michael Wilson sold 5,500 shares of Semtech stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $170.00, for a total value of $935,000.00. Following the sale, the insider owned 80,876 shares in the company, valued at $13,748,920. This represents a 6.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,500 shares of company stock worth $1,866,435 over the last 90 days. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Semtech by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock worth $873,842,000 after purchasing an additional 298,987 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Semtech by 3.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock worth $526,861,000 after purchasing an additional 261,647 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Semtech by 13.9% in the 3rd quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock worth $335,220,000 after purchasing an additional 571,372 shares in the last quarter. State Street Corp grew its stake in shares of Semtech by 1.5% in the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after buying an additional 60,788 shares during the last quarter. Finally, Whale Rock Capital Management LLC increased its position in Semtech by 11.3% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock valued at $287,499,000 after buying an additional 396,504 shares in the last quarter.

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.