Semtech (NASDAQ:SMTC) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Semtech (NASDAQ:SMTC) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks.com reports.

SMTC has been the subject of several other reports. TD Cowen increased their price objective on Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Needham & Company LLC boosted their target price on Semtech from $105.00 to $200.00 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 stock a “buy” rating in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Semtech in a research note on Thursday, June 18th. Finally, Morgan Stanley lifted their price target on Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $189.07.

Semtech Stock Up 3.7%

Semtech stock opened at $161.85 on Monday. The firm has a market cap of $15.08 billion, a PE ratio of -415.00 and a beta of 2.32. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. The firm’s 50 day moving average price is $142.59 and its two-hundred day moving average price is $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 earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The company had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, research analysts predict that Semtech will post 1.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Hong Q. Hou sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $162.10, for a total value of $324,200.00. Following the completion of the sale, the chief executive officer directly owned 69,228 shares in the company, valued at approximately $11,221,858.80. The trade was a 2.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin Burvill sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $88.98, for a total value of $222,450.00. Following the sale, the director directly owned 4,409 shares of the company’s stock, valued at $392,312.82. The trade was a 36.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,500 shares of company stock valued at $1,866,435 over the last 90 days. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Militia Capital Management LLC bought a new position in Semtech in the 1st quarter worth $2,307,000. Glenmede Trust Co. NA lifted its position in Semtech by 3.3% during the 1st quarter. Glenmede Trust Co. NA now owns 18,432 shares of the semiconductor company’s stock worth $1,417,000 after acquiring an additional 589 shares during the last quarter. E20 Capital Ltd bought a new stake in Semtech during the first quarter valued at about $21,809,000. Janus Henderson Group PLC boosted its holdings in Semtech by 10.2% during the first quarter. Janus Henderson Group PLC now owns 61,443 shares of the semiconductor company’s stock valued at $4,723,000 after acquiring an additional 5,699 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of Semtech by 24.8% in the first quarter. California State Teachers Retirement System now owns 102,818 shares of the semiconductor company’s stock valued at $7,906,000 after purchasing an additional 20,408 shares during the last quarter.

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.