Craig Hallum Forecasts Strong Price Appreciation for Semtech (NASDAQ:SMTC) Stock

Semtech (NASDAQ:SMTC) had its price target upped by equities research analysts at Craig Hallum from $80.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s target price points to a potential upside of 30.21% from the stock’s current price.

SMTC has been the topic of a number of other research reports. Susquehanna lifted their price objective on Semtech from $90.00 to $100.00 and gave the stock a “positive” rating in a research note on Monday, March 9th. Morgan Stanley raised their target price on shares of Semtech from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday. B. Riley Financial boosted their price target on shares of Semtech from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Oppenheimer reaffirmed an “outperform” rating and set a $100.00 price target (up from $81.00) on shares of Semtech in a research note on Tuesday, March 10th. Finally, Piper Sandler reiterated an “overweight” rating and set a $95.00 price objective (up from $70.00) on shares of Semtech in a research report on Thursday, December 11th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and a consensus target price of $92.43.

Semtech Stock Performance

SMTC traded down $8.36 during midday trading on Tuesday, reaching $80.64. The company had a trading volume of 2,219,031 shares, compared to its average volume of 1,500,396. The business has a 50-day moving average of $83.98 and a two-hundred day moving average of $74.08. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.87. Semtech has a 1 year low of $24.05 and a 1 year high of $96.46. The company has a market cap of $7.46 billion, a P/E ratio of 261.23 and a beta of 1.99.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $274.40 million during the quarter, compared to the consensus estimate of $273.14 million. Semtech had a return on equity of 17.00% and a net margin of 2.77%.The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. As a group, equities research analysts predict that Semtech will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Asaf Silberstein sold 10,000 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $92.00, for a total transaction of $920,000.00. Following the transaction, the chief operating officer directly owned 68,496 shares in the company, valued at approximately $6,301,632. This represents a 12.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Saar Gillai sold 3,600 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $75.26, for a total transaction of $270,936.00. Following the completion of the sale, the director directly owned 9,523 shares of the company’s stock, valued at approximately $716,700.98. The trade was a 27.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,191 shares of company stock worth $3,361,412 in the last 90 days. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Semtech

Several hedge funds have recently bought and sold shares of SMTC. New York State Common Retirement Fund lifted its position in shares of Semtech by 55.7% during the third quarter. New York State Common Retirement Fund now owns 277,661 shares of the semiconductor company’s stock worth $19,839,000 after purchasing an additional 99,335 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Semtech by 24.4% during the third quarter. Nordea Investment Management AB now owns 117,669 shares of the semiconductor company’s stock valued at $7,992,000 after purchasing an additional 23,086 shares during the period. Lisanti Capital Growth LLC bought a new position in shares of Semtech in the third quarter worth about $4,318,000. Allspring Global Investments Holdings LLC bought a new position in shares of Semtech in the third quarter worth about $9,160,000. Finally, Hodges Capital Management Inc. purchased a new position in Semtech in the 3rd quarter worth about $4,624,000.

Key Semtech News

Here are the key news stories impacting Semtech this week:

• Positive Sentiment: Record revenue and non?GAAP beat: Fiscal Q4 net sales were a company record and non?GAAP EPS of $0.44 modestly topped expectations, showing operating momentum that supports longer?term growth thesis. Business Wire: Q4 Results
• Positive Sentiment: Analyst upgrades and higher price targets: Multiple firms (Baird, Needham, Stifel, Benchmark among others) raised PTs and reiterated/added buy/outperform views, signaling sustained analyst conviction that could support the stock over time. Benzinga: Analyst Moves
• Positive Sentiment: New product news: Semtech launched a 224Gbps IC family aimed at linear optics/datacenter markets — a product catalyst that can support revenue mix expansion. Yahoo Finance: Product Launch
• Neutral Sentiment: Guidance roughly in line: Q1 revenue guidance (~$283M ±$5M) and non?GAAP EPS guidance ($0.45 ±$0.03) were essentially in line with market expectations, reducing the likelihood of an upside surprise in the near term. Yahoo Finance: Call Highlights
• Negative Sentiment: GAAP loss driven by impairment charges: The quarter included sizable goodwill/intangible impairments that pushed GAAP diluted EPS to a loss and produced a negative GAAP operating margin — a near?term headline that likely triggered the sell?the?news reaction. QuiverQuant: Slide Analysis
• Negative Sentiment: Insider and institutional selling: Recent disclosures show multiple insider sales (no recent purchases) and large institutional reductions by some funds — items that can weigh on sentiment even if strategic. QuiverQuant: Insider & HF Activity

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.