Semtech (NASDAQ:SMTC) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Semtech (NASDAQ:SMTC) from a strong-buy rating to a buy rating in a report published on Monday.

Several other equities research analysts also recently weighed in on SMTC. Summit Insights upgraded Semtech from a “hold” rating to a “buy” rating in a report on Tuesday, November 25th. Roth Mkm increased their target price on Semtech from $65.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price on shares of Semtech in a research report on Tuesday, November 25th. Robert W. Baird boosted their target price on shares of Semtech from $70.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Finally, B. Riley upped their price target on shares of Semtech from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.21.

Semtech Trading Up 0.8%

SMTC stock opened at $81.17 on Monday. Semtech has a twelve month low of $24.05 and a twelve month high of $83.80. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 261.84 and a beta of 2.01. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.87. The firm’s fifty day simple moving average is $74.61 and its two-hundred day simple moving average is $65.45.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, November 24th. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $266.97 million during the quarter, compared to analysts’ expectations of $266.36 million. Semtech had a net margin of 2.77% and a return on equity of 17.00%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 EPS. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. As a group, analysts anticipate that Semtech will post -0.02 earnings per share for the current year.

Insider Buying and Selling

In other Semtech news, COO Asaf Silberstein sold 5,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $83.00, for a total transaction of $415,000.00. Following the transaction, the chief operating officer directly owned 88,496 shares in the company, valued at $7,345,168. This represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Michael Fischer sold 1,034 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $75.50, for a total transaction of $78,067.00. Following the completion of the sale, the director owned 2,857 shares of the company’s stock, valued at approximately $215,703.50. This represents a 26.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,967 shares of company stock valued at $1,316,108 over the last quarter. 0.48% of the stock is owned by company insiders.

Institutional Trading of Semtech

A number of hedge funds have recently bought and sold shares of SMTC. Westfield Capital Management Co. LP increased its holdings in shares of Semtech by 107.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,747,260 shares of the semiconductor company’s stock valued at $124,011,000 after acquiring an additional 1,424,909 shares during the period. Think Investments LP purchased a new stake in shares of Semtech during the 3rd quarter worth $58,618,000. Ameriprise Financial Inc. boosted its position in Semtech by 10.3% during the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after purchasing an additional 666,456 shares in the last quarter. Atreides Management LP bought a new stake in Semtech during the second quarter valued at about $29,880,000. Finally, Hood River Capital Management LLC grew its stake in Semtech by 36.0% in the second quarter. Hood River Capital Management LLC now owns 2,244,631 shares of the semiconductor company’s stock valued at $101,323,000 after purchasing an additional 594,529 shares during 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.