Brokerages Set Semtech Corporation (NASDAQ:SMTC) PT at $179.73

Semtech Corporation (NASDAQ:SMTC) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $179.7333.

A number of brokerages have issued reports on SMTC. TD Cowen reaffirmed a “buy” rating on shares of Semtech in a report on Tuesday, February 24th. Northland Securities cut Semtech from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Stifel Nicolaus upped their target price on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Morgan Stanley upped their target price on Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Finally, Susquehanna upped their target price on Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, May 27th.

Insider Buying and Selling

In other news, CFO Mark Lin sold 974 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $78.42, for a total value of $76,381.08. Following the completion of the sale, the chief financial officer owned 33,343 shares of the company’s stock, valued at approximately $2,614,758.06. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 7,500 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $81.73, for a total value of $612,975.00. Following the completion of the sale, the executive vice president directly owned 8,811 shares of the company’s stock, valued at approximately $720,123.03. The trade was a 45.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 36,884 shares of company stock valued at $3,069,245. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Semtech

Several institutional investors and hedge funds have recently made changes to their positions in SMTC. Jones Financial Companies Lllp increased its stake in shares of Semtech by 12,214.3% in the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock valued at $89,000 after buying an additional 2,565 shares during the period. Empowered Funds LLC grew its stake in Semtech by 11.5% during the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock worth $323,000 after purchasing an additional 968 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Semtech by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock worth $14,166,000 after purchasing an additional 22,629 shares during the period. Strs Ohio acquired a new stake in Semtech during the first quarter worth approximately $65,000. Finally, Cetera Investment Advisers acquired a new stake in Semtech during the second quarter worth approximately $226,000.

Semtech Price Performance

Shares of SMTC opened at $163.50 on Thursday. Semtech has a 12-month low of $37.03 and a 12-month high of $172.35. The business has a 50-day simple moving average of $113.76 and a two-hundred day simple moving average of $91.29. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. The stock has a market cap of $15.23 billion, a PE ratio of -419.23 and a beta of 2.32.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $291.00 million during the quarter, compared to analysts’ expectations of $283.53 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Analysts anticipate that Semtech will post 1.6 earnings per share for the current fiscal year.

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.