Semtech (NASDAQ:SMTC) Reaches New 52-Week High on Analyst Upgrade

Semtech Corporation (NASDAQ:SMTC) shares reached a new 52-week high during mid-day trading on Friday after Oppenheimer raised their price target on the stock from $200.00 to $225.00. Oppenheimer currently has an outperform rating on the stock. Semtech traded as high as $192.80 and last traded at $194.0540, with a volume of 68227 shares. The stock had previously closed at $186.59.

Several other research firms also recently issued reports on SMTC. UBS Group boosted their price objective 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. Seaport Research Partners began coverage on shares of Semtech in a report on Tuesday, September 22nd. They set a “buy” rating and a $200.00 target price on the stock. Wall Street Zen raised shares of Semtech from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Morgan Stanley increased their price target on Semtech from $175.00 to $195.00 and gave the company an “equal weight” rating in a report on Wednesday, August 26th. Finally, BMO Capital Markets began coverage on Semtech in a research report on Wednesday, August 26th. They issued an “outperform” rating and a $155.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.18.

Insiders Place Their Bets

In other Semtech news, Director Rodolpho C. Cardenuto sold 5,321 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $165.00, for a total value of $877,965.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jason Elliot Green sold 2,264 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total transaction of $294,093.60. Following the completion of the transaction, the executive vice president directly owned 8,611 shares of the company’s stock, valued at approximately $1,118,568.90. The trade was a 20.82% 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. In the last ninety days, insiders sold 22,768 shares of company stock valued at $3,214,795. Corporate insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC increased its holdings in 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 purchasing an additional 180 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Semtech during the 2nd quarter valued at approximately $32,000. Banque Cantonale Vaudoise purchased a new position in shares of Semtech during the 1st quarter valued at approximately $33,000. Allworth Financial LP acquired a new stake in shares of Semtech during the second quarter worth approximately $55,000. Finally, Allied Private Wealth LLC bought a new stake in shares of Semtech in the second quarter worth $65,000.

Semtech Trading Up 5.6%

The firm has a market cap of $18.39 billion, a P/E ratio of 127.05 and a beta of 2.41. The business’s 50 day moving average is $145.02 and its 200-day moving average is $132.01. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.10. The company had revenue of $341.87 million during the quarter, compared to analyst estimates of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, analysts forecast that Semtech Corporation will post 2.64 earnings per share for the current fiscal year.

Semtech Company Profile

Semtech Corporation is a global semiconductor and technology company that designs and supplies analog and mixed-signal products for communications, industrial, automotive, consumer, and infrastructure applications. Its solutions are used to manage, protect, connect, and transmit data in electronic systems.

The company’s portfolio includes signal-integrity products, protection devices, power-management components, optical and high-speed connectivity solutions, and video-processing technologies.