Semtech Corporation (NASDAQ:SMTC) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of Semtech Corporation (NASDAQ:SMTC) have been given a consensus recommendation of “Moderate Buy” by the nineteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $208.06.

SMTC has been the subject of several recent analyst reports. New Street Research set a $230.00 target price on Semtech in a report on Thursday, August 20th. Benchmark reissued a “buy” rating on shares of Semtech in a research report on Thursday, August 20th. Robert W. Baird upped their price objective on Semtech from $225.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Wall Street Zen raised Semtech from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Finally, Morgan Stanley lifted their target price on Semtech from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 26th.

Semtech Stock Up 2.3%

Semtech stock opened at $197.20 on Wednesday. Semtech has a fifty-two week low of $60.28 and a fifty-two week high of $201.99. The stock has a market cap of $18.40 billion, a PE ratio of 130.60 and a beta of 2.41. The firm’s 50-day simple moving average is $149.54 and its 200 day simple moving average is $134.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70.

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

Insider Activity at Semtech

In related news, Director Julie Ruehl sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $145.00, for a total transaction of $217,500.00. Following the completion of the sale, the director owned 7,140 shares in the company, valued at approximately $1,035,300. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 967 shares of Semtech stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $178.87, for a total transaction of $172,967.29. Following the completion of the sale, the chief financial officer directly owned 35,999 shares in the company, valued at approximately $6,439,141.13. This represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,971 shares of company stock valued at $2,007,369 in the last 90 days. 0.44% of the stock is currently owned by company insiders.

Institutional Trading of Semtech

Several hedge funds have recently made changes to their positions in SMTC. Cim Investment Management Inc. purchased a new stake in Semtech in the 2nd quarter worth about $319,000. SkyView Investment Advisors LLC purchased a new stake in Semtech during the second quarter valued at about $283,000. Sequoia Financial Advisors LLC bought a new position in Semtech during the second quarter worth about $374,000. Tidal Investments LLC purchased a new position in shares of Semtech in the second quarter worth about $22,728,000. Finally, IPG Investment Advisors LLC purchased a new position in shares of Semtech in the second quarter worth about $296,000.

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.