Semtech Corporation (NASDAQ:SMTC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Semtech Corporation (NASDAQ:SMTC) have received an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $189.0667.

Several equities analysts have weighed in on SMTC shares. Northland Securities cut Semtech from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Mizuho set a $225.00 price target on shares of Semtech in a research report on Wednesday, May 27th. Benchmark raised their price target on shares of Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. Finally, Citigroup lowered shares of Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th.

Semtech Stock Performance

Shares of Semtech stock opened at $127.65 on Friday. Semtech has a 12 month low of $46.02 and a 12 month high of $177.35. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. The stock has a market cap of $11.89 billion, a PE ratio of -327.31 and a beta of 2.31. The business has a fifty day simple moving average of $149.41 and a 200-day simple moving average of $108.37.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. The firm had revenue of $291.02 million for the quarter, compared to analyst estimates of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.Semtech’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, sell-side analysts anticipate that Semtech will post 1.81 EPS for the current fiscal year.

Insider Activity at Semtech

In other news, EVP Jason Elliot Green sold 2,264 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total transaction of $294,093.60. Following the transaction, the executive vice president directly owned 8,611 shares in the company, valued at $1,118,568.90. The trade was a 20.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul V. Walsh, Jr. sold 500 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total transaction of $82,495.00. Following the completion of the transaction, the director directly owned 28,100 shares in the company, valued at $4,636,219. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 22,734 shares of company stock worth $3,256,056. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Semtech by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock worth $873,842,000 after purchasing an additional 298,987 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after buying an additional 666,456 shares in the last quarter. State Street Corp grew its stake in shares of Semtech by 1.5% in the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after buying an additional 60,788 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in Semtech by 11.3% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock worth $287,499,000 after buying an additional 396,504 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Semtech by 9.8% during the second quarter. Alliancebernstein L.P. now owns 3,318,384 shares of the semiconductor company’s stock valued at $149,792,000 after acquiring an additional 294,990 shares in the last quarter.

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.