Piper Sandler Reiterates Overweight Rating for Semtech (NASDAQ:SMTC)

Semtech (NASDAQ:SMTC)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a note issued to investors on Thursday,Benzinga reports. They currently have a $95.00 price objective on the semiconductor company’s stock, up from their previous price objective of $70.00. Piper Sandler’s price target would suggest a potential upside of 20.25% from the company’s previous close.

SMTC has been the topic of several other reports. Susquehanna upped their target price on shares of Semtech from $65.00 to $80.00 and gave the company a “positive” rating in a research report on Tuesday, November 18th. B. Riley increased their price target on shares of Semtech from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Roth Capital boosted their price objective on shares of Semtech from $65.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Northland Securities increased their price target on shares of Semtech from $48.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, August 26th. Finally, Craig Hallum boosted their price objective on Semtech from $55.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

Semtech Price Performance

Shares of NASDAQ:SMTC traded down $0.44 during trading on Thursday, hitting $79.00. 301,115 shares of the company’s stock were exchanged, compared to its average volume of 2,212,615. The business’s 50-day simple moving average is $70.16 and its 200 day simple moving average is $57.41. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 254.24 and a beta of 2.01. Semtech has a 52-week low of $24.05 and a 52-week high of $81.32. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $266.97 million for the quarter, compared to analysts’ expectations of $266.36 million. Semtech had a net margin of 2.77% and a return on equity of 17.00%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. As a group, equities analysts predict that Semtech will post -0.02 EPS for the current year.

Insider Activity at Semtech

In other news, Director Martin Burvill sold 3,500 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total value of $219,625.00. Following the completion of the sale, the director directly owned 6,909 shares in the company, valued at $433,539.75. This represents a 33.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul V. Walsh, Jr. sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $66.24, for a total value of $33,120.00. Following the completion of the sale, the director owned 26,779 shares of the company’s stock, valued at $1,773,840.96. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 4,971 shares of company stock valued at $323,463. 0.48% of the stock is owned by insiders.

Institutional Trading of Semtech

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. raised its stake in Semtech by 78.4% during the second quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 287 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Semtech in the 2nd quarter valued at about $33,000. Smartleaf Asset Management LLC lifted its position in Semtech by 33.4% in the first quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 257 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Semtech by 243.2% during the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after buying an additional 360 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Semtech during the third quarter valued at about $41,000.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.