Semtech (NASDAQ:SMTC) Stock Price Up 7.4% – What’s Next?

Semtech Corporation (NASDAQ:SMTC) shares were up 7.4% on Friday. The stock traded as high as $132.06 and last traded at $134.3190. 664,928 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 2,875,487 shares. The stock had previously closed at $125.12.

Wall Street Analyst Weigh In

Several research firms recently commented on SMTC. Oppenheimer boosted their price objective on shares of Semtech from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, October 1st. DA Davidson set a $230.00 price objective on Semtech in a report on Friday, October 16th. Seaport Research Partners started coverage on Semtech in a report on Tuesday, September 22nd. They set a “buy” rating and a $200.00 target price for the company. Stifel Nicolaus cut their price target on shares of Semtech from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 16th. Finally, BMO Capital Markets lifted their price objective on shares of Semtech from $155.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, October 13th. One equities 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.11.

Semtech Stock Performance

The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 88.15 and a beta of 2.41. The firm’s fifty day moving average price is $157.15 and its 200 day moving average price is $141.26.

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

Insider Transactions at Semtech

In other Semtech news, Director Paul V. Walsh, Jr. sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $172.61, for a total value of $86,305.00. Following the transaction, the director directly owned 26,600 shares of the company’s stock, valued at $4,591,426. This represents a 1.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,766 shares of the business’s stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $190.35, for a total transaction of $526,508.10. Following the sale, the executive vice president owned 7,367 shares of the company’s stock, valued at approximately $1,402,308.45. The trade was a 27.30% decrease in their position. 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 sold 13,737 shares of company stock valued at $2,267,877 in the last quarter. Insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SMTC. SBI Securities Co. Ltd. grew its holdings in shares of Semtech by 29.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 679 shares of the semiconductor company’s stock worth $121,000 after acquiring an additional 155 shares during the last quarter. Reyes Financial Architecture Inc. acquired a new stake in shares of Semtech in the third quarter worth $66,000. Crossmark Global Holdings Inc. grew its holdings in shares of Semtech by 23.3% during the third quarter. Crossmark Global Holdings Inc. now owns 5,553 shares of the semiconductor company’s stock valued at $990,000 after buying an additional 1,051 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Semtech by 6.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,974 shares of the semiconductor company’s stock worth $514,000 after acquiring an additional 183 shares in the last quarter. Finally, Capstone Capital Management Ltd grew its holdings in shares of Semtech by 217.2% during the 3rd quarter. Capstone Capital Management Ltd now owns 10,192 shares of the semiconductor company’s stock valued at $1,818,000 after acquiring an additional 6,979 shares in the last quarter.

Semtech Company Profile

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and infrastructure technology company that develops analog and mixed-signal products for communications, industrial, data center, consumer, and automotive applications. Its portfolio is designed to improve connectivity, power efficiency, signal integrity, and protection in electronic systems.

The company’s products include high-speed connectivity solutions for data centers and communications networks, power management and protection devices, signal integrity components, and wireless and radio-frequency technologies.