Semtech (NASDAQ:SMTC) Sets New 12-Month High – Still a Buy?

Shares of Semtech Corporation (NASDAQ:SMTC) hit a new 52-week high on Wednesday . The stock traded as high as $92.50 and last traded at $87.3430, with a volume of 164160 shares trading hands. The stock had previously closed at $88.59.

Analyst Upgrades and Downgrades

SMTC has been the subject of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price target (up previously from $70.00) on shares of Semtech in a research report on Thursday, December 11th. B. Riley Financial raised their price objective on Semtech from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Wall Street Zen lowered shares of Semtech from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Semtech in a research report on Monday, December 29th. Finally, Roth Mkm increased their price objective on Semtech from $65.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.21.

Semtech Trading Down 0.5%

The firm has a market cap of $7.97 billion, a P/E ratio of 279.05 and a beta of 2.01. The business’s 50-day moving average is $78.39 and its two-hundred day moving average is $68.32. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.43 and a quick ratio of 1.71.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, November 24th. The semiconductor company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $266.97 million during the quarter, compared to the consensus estimate of $266.36 million. Semtech had a return on equity of 17.00% and a net margin of 2.77%.The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. As a group, analysts predict that Semtech Corporation will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Semtech

In related news, Director Saar Gillai sold 3,600 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $75.26, for a total value of $270,936.00. Following the transaction, the director directly owned 9,523 shares in the company, valued at approximately $716,700.98. This represents a 27.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Michael Wilson sold 5,000 shares of Semtech stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $75.12, for a total transaction of $375,600.00. Following the completion of the sale, the insider owned 60,066 shares of the company’s stock, valued at $4,512,157.92. This trade represents a 7.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,967 shares of company stock worth $2,236,108 in the last 90 days. Company insiders own 0.48% of the company’s stock.

Institutional Trading of Semtech

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp grew its stake in shares of Semtech by 12,214.3% during the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock worth $89,000 after buying an additional 2,565 shares during the last quarter. Empowered Funds LLC grew its position in Semtech by 11.5% during the 1st quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock worth $323,000 after acquiring an additional 968 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Semtech by 5.8% in the 1st 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 in the last quarter. Strs Ohio bought a new position in Semtech in the first quarter valued at about $65,000. Finally, Truist Financial Corp boosted its stake in shares of Semtech by 23.5% during the second quarter. Truist Financial Corp now owns 8,080 shares of the semiconductor company’s stock valued at $365,000 after purchasing an additional 1,535 shares in the last quarter.

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.