Brokerages Set Semtech Corporation (NASDAQ:SMTC) Price Target at $204.71

Shares of Semtech Corporation (NASDAQ:SMTC) have been given an average recommendation of “Moderate Buy” by the nineteen ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $204.7059.

SMTC has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Semtech in a research report on Wednesday, August 26th. Morgan Stanley increased their price objective on shares of Semtech from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 26th. TD Cowen raised their target price on shares of Semtech from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Zacks Research downgraded Semtech from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Semtech in a research note on Thursday, June 18th.

Insider Transactions at Semtech

In other news, CEO Hong Q. Hou sold 2,000 shares of Semtech stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $133.00, for a total transaction of $266,000.00. Following the sale, the chief executive officer owned 64,799 shares in the company, valued at $8,618,267. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total transaction 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. The trade was a 2.70% decrease in their ownership of the stock. 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 19,734 shares of company stock worth $2,809,786 over the last 90 days. 0.44% of the stock is owned by corporate insiders.

Institutional Trading of Semtech

Hedge funds have recently made changes to their positions in the stock. Andar Capital Management HK Ltd bought a new stake in shares of Semtech in the 2nd quarter valued at approximately $162,000,000. California State Teachers Retirement System lifted its stake in Semtech by 16,868.8% during the second quarter. California State Teachers Retirement System now owns 17,446,944 shares of the semiconductor company’s stock worth $2,823,788,000 after purchasing an additional 17,344,126 shares during the last quarter. BlackRock Inc. acquired a new position in Semtech in the second quarter worth $1,577,947,000. Ameriprise Financial Inc. boosted its holdings in Semtech by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after purchasing an additional 666,456 shares during the period. Finally, State Street Corp increased its stake in Semtech by 1.5% during the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after purchasing an additional 60,788 shares during the last quarter.

Semtech Stock Performance

Shares of SMTC stock opened at $147.88 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of 97.93 and a beta of 2.35. Semtech has a one year low of $57.50 and a one year high of $177.35. The company has a 50 day moving average price of $132.39 and a 200 day moving average price of $121.46.

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

Semtech Company Profile

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.