Semtech (NASDAQ:SMTC) Price Target Raised to $220.00

Semtech (NASDAQ:SMTC) had its target price lifted by Stifel Nicolaus from $188.00 to $220.00 in a research note released on Monday morning, Marketbeat reports. They currently have a buy rating on the semiconductor company’s stock.

Several other analysts have also commented on SMTC. Roth Capital set a $220.00 price target on shares of Semtech in a research report on Wednesday, August 26th. Oppenheimer increased their price objective on Semtech from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, October 1st. Needham & Company LLC reissued a “buy” rating and set a $200.00 target price on shares of Semtech in a research note on Wednesday, August 26th. New Street Research set a $230.00 target price on Semtech in a research note on Thursday, August 20th. Finally, Zacks Research upgraded Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.06.

Semtech Trading Down 1.7%

Shares of SMTC opened at $193.78 on Monday. Semtech has a 12-month low of $60.28 and a 12-month high of $201.99. The firm has a market capitalization of $18.09 billion, a P/E ratio of 128.33 and a beta of 2.41. The firm has a 50-day moving average price of $151.35 and a 200 day moving average price of $135.24. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47.

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

Insider Transactions at Semtech

In other Semtech news, Director Julie Ruehl sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $145.00, for a total value of $217,500.00. Following the sale, the director owned 7,140 shares of the company’s stock, valued at $1,035,300. The trade was a 17.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 967 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $178.87, for a total value of $172,967.29. Following the transaction, the chief financial officer owned 35,999 shares of the company’s stock, valued at approximately $6,439,141.13. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,971 shares of company stock worth $2,007,369 in the last three months. Company insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Semtech

Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC increased its stake in Semtech by 900.0% during the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 180 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Semtech in the second quarter valued at approximately $32,000. Banque Cantonale Vaudoise purchased a new position in shares of Semtech in the first quarter valued at approximately $33,000. Allworth Financial LP acquired a new position in shares of Semtech in the second quarter valued at approximately $55,000. Finally, Allied Private Wealth LLC acquired a new position in shares of Semtech in the second quarter valued at approximately $65,000.

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.