Semtech (NASDAQ:SMTC) Price Target Cut to $190.00 by Analysts at B. Riley Financial

Semtech (NASDAQ:SMTC) had its price target lowered by research analysts at B. Riley Financial from $210.00 to $190.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. B. Riley Financial‘s price objective would suggest a potential upside of 66.76% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird raised their target price on shares of Semtech from $225.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Stifel Nicolaus cut their price target on shares of Semtech from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Benchmark reissued a “buy” rating on shares of Semtech in a research note on Thursday, August 20th. New Street Research set a $230.00 price target on shares of Semtech in a report on Thursday, August 20th. Finally, Roth Capital set a $220.00 price objective on shares of Semtech in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

Semtech Price Performance

NASDAQ:SMTC traded up $10.73 during trading hours on Monday, hitting $113.94. The stock had a trading volume of 365,254 shares, compared to its average volume of 2,904,087. The company has a 50 day simple moving average of $155.15 and a two-hundred day simple moving average of $125.55. The firm has a market capitalization of $10.63 billion, a price-to-earnings ratio of 75.54 and a beta of 2.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31. Semtech has a one year low of $60.28 and a one year high of $201.99.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.10. The firm had revenue of $341.87 million for the quarter, compared to analysts’ expectations of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The business’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Research analysts forecast that Semtech will post 2.80 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jason Elliot Green sold 2,766 shares of the firm’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total transaction of $526,508.10. Following the transaction, the executive vice president directly owned 7,367 shares of the company’s stock, valued at approximately $1,402,308.45. This trade represents a 27.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 dated Thursday, October 1st. The shares were sold at an average price of $178.87, for a total value of $172,967.29. Following the transaction, the chief financial officer directly owned 35,999 shares in the company, 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. In the last three months, insiders sold 14,237 shares of company stock worth $2,337,597. 0.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. North Dakota State Investment Board raised its holdings in Semtech by 3.8% in the 3rd quarter. North Dakota State Investment Board now owns 2,838 shares of the semiconductor company’s stock worth $506,000 after purchasing an additional 105 shares in the last quarter. Corient Private Wealth LP lifted its position in shares of Semtech by 4.0% in the 2nd quarter. Corient Private Wealth LP now owns 3,147 shares of the semiconductor company’s stock worth $515,000 after purchasing an additional 122 shares during the period. REAP Financial Group LLC purchased a new stake in shares of Semtech in the 3rd quarter worth about $27,000. SBI Securities Co. Ltd. boosted its stake in shares of Semtech by 29.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 679 shares of the semiconductor company’s stock valued at $121,000 after purchasing an additional 155 shares in the last quarter. Finally, ABS Investment Management LLC bought a new stake in shares of Semtech during the 2nd quarter valued at about $178,035,000.

Semtech Company Profile

Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems.

The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.

Founded in 1960, Semtech serves customers around the world through its international operations and sales network.