Semtech (NASDAQ:SMTC) Shares Up 12.1% – Should You Buy?

Semtech Corporation (NASDAQ:SMTC) shares were up 12.1% on Thursday . The company traded as high as $137.15 and last traded at $135.9040. 1,831,613 shares traded hands during trading, a decline of 32% from the average daily volume of 2,679,306 shares. The stock had previously closed at $121.25.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Semtech in a report on Thursday, June 18th. Stifel Nicolaus lifted their target price on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Zacks Research upgraded Semtech from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Roth Capital increased their price target on Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Morgan Stanley lifted their price objective on Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. One 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 given a Sell rating to the company. According to MarketBeat.com, Semtech has an average rating of “Moderate Buy” and a consensus target price of $189.07.

Semtech Trading Up 12.0%

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 business’s 50 day moving average price is $143.98 and its 200-day moving average price is $113.08. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of -349.26 and a beta of 2.35.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data 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. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The firm had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. During the same period in the previous year, the company earned $0.38 earnings per share. Semtech’s quarterly revenue was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities analysts expect that Semtech Corporation will post 1.81 EPS for the current year.

Insider Buying and Selling at Semtech

In related news, COO Asaf Silberstein sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the sale, the chief operating officer directly owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. This represents a 8.07% decrease in their position. 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 Paul V. Walsh, Jr. sold 500 shares of Semtech 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 of the company’s stock, valued at approximately $4,636,219. This represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 22,234 shares of company stock worth $3,203,091. 0.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Semtech

Large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC boosted its stake in Semtech by 900.0% in the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 180 shares during the period. Allied Private Wealth LLC bought a new stake in shares of Semtech in the 2nd quarter worth approximately $65,000. Banque Cantonale Vaudoise bought a new stake in shares of Semtech in the 1st quarter worth approximately $33,000. IFP Advisors Inc acquired a new position in Semtech during the 4th quarter valued at approximately $53,000. Finally, Sound Income Strategies LLC bought a new position in Semtech during the 4th quarter worth $60,000.

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.