Semtech (NASDAQ:SMTC) Upgraded at Summit Insights

Summit Insights upgraded shares of Semtech (NASDAQ:SMTC) from a hold rating to a buy rating in a report released on Tuesday, Marketbeat reports.

Several other equities research analysts also recently weighed in on SMTC. Piper Sandler reissued an “overweight” rating and issued a $70.00 target price (up previously from $65.00) on shares of Semtech in a research report on Tuesday. Benchmark lifted their price target on Semtech from $76.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group upped their price objective on Semtech from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, October 27th. B. Riley increased their target price on Semtech from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Cowen initiated coverage on Semtech in a report on Tuesday, September 30th. They issued a “buy” rating for the company. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $76.71.

Semtech Stock Performance

Shares of SMTC opened at $73.45 on Tuesday. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 306.04 and a beta of 2.03. The company has a quick ratio of 1.78, a current ratio of 2.53 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $67.83 and its two-hundred day moving average is $54.94. Semtech has a 52-week low of $24.05 and a 52-week high of $79.52.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 24th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $266.97 million during the quarter, compared to analyst estimates of $266.36 million. Semtech had a net margin of 2.38% and a return on equity of 18.28%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. Analysts forecast that Semtech will post -0.02 EPS for the current fiscal year.

Insider Activity

In other news, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $66.24, for a total transaction of $33,120.00. Following the sale, the director directly owned 26,779 shares in the company, valued at approximately $1,773,840.96. This represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Burvill sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total value of $219,625.00. Following the completion of the sale, the director directly owned 6,909 shares in the company, valued at approximately $433,539.75. This trade represents a 33.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,971 shares of company stock valued at $323,463. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Semtech

Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Bessemer Group Inc. grew its position in shares of Semtech by 78.4% during the second quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 287 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Semtech during the 2nd quarter valued at about $33,000. Smartleaf Asset Management LLC grew its position in Semtech by 33.4% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 257 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of Semtech by 243.2% in the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 360 shares during the period. Finally, Salomon & Ludwin LLC bought a new stake in shares of Semtech during the third quarter valued at approximately $41,000.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.