Semtech (NASDAQ:SMTC) Upgraded at Northland Securities

Semtech (NASDAQ:SMTC) was upgraded by research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research note issued on Friday, Benzinga reports. The firm presently has a $186.00 price target on the semiconductor company’s stock. Northland Securities’ target price indicates a potential upside of 28.98% from the stock’s previous close.

SMTC has been the subject of a number of other reports. Roth Capital set a $220.00 target price on shares of Semtech in a research note on Wednesday, August 26th. Zacks Research upgraded Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. Benchmark reissued a “buy” rating on shares of Semtech in a research note on Thursday, August 20th. Weiss Ratings lowered Semtech from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, October 6th. Finally, Wall Street Zen upgraded Semtech from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average price target of $211.53.

Semtech Price Performance

Shares of SMTC opened at $144.21 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 stock has a 50 day simple moving average of $157.02 and a 200 day simple moving average of $139.23. Semtech has a 52-week low of $60.28 and a 52-week high of $201.99. The firm has a market capitalization of $13.46 billion, a PE ratio of 95.50 and a beta of 2.41.

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

Insider Buying and Selling at Semtech

In related news, EVP Jason Elliot Green sold 2,766 shares of the company’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total transaction of $526,508.10. Following the sale, the executive vice president owned 7,367 shares in the company, valued at approximately $1,402,308.45. This represents a 27.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rodolpho Cardenuto sold 5,321 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $165.00, for a total value of $877,965.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,737 shares of company stock valued at $2,267,877 in the last ninety days. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Semtech

Several large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its position in Semtech by 56.3% during the third quarter. Assenagon Asset Management S.A. now owns 546,422 shares of the semiconductor company’s stock worth $97,454,000 after acquiring an additional 196,734 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Semtech by 23.3% in the 3rd quarter. GAMMA Investing LLC now owns 6,045 shares of the semiconductor company’s stock valued at $1,078,000 after acquiring an additional 1,142 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Semtech by 116.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,066 shares of the semiconductor company’s stock worth $725,000 after purchasing an additional 2,189 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in shares of Semtech during the 3rd quarter worth about $624,000. Finally, Whalen Wealth Management Inc. bought a new stake in shares of Semtech in the 3rd quarter valued at about $253,000.

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.