Semtech (NASDAQ:SMTC) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Semtech (NASDAQ:SMTC) in a report published on Friday,Benzinga reports. The brokerage currently has a $200.00 price objective on the semiconductor company’s stock.

Other analysts have also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. B. Riley Financial upped their target price on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Roth Capital raised their price target on Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Craig Hallum lifted their price target on Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Stifel Nicolaus boosted their price target on Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $189.07.

Semtech Stock Performance

Shares of SMTC opened at $140.35 on Friday. The company’s 50 day moving average price is $140.61 and its 200 day moving average price is $115.63. Semtech has a 52 week low of $46.02 and a 52 week high of $177.35. The company has a market capitalization of $13.07 billion, a PE ratio of -359.87 and a beta of 2.35. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37.

Semtech (NASDAQ:SMTC) last released 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 negative net margin of 3.05% and a positive return on equity of 18.31%. The company had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Research analysts expect that Semtech will post 1.81 EPS for the current fiscal year.

Insider Activity

In other Semtech news, CFO Mark Lin sold 970 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total transaction of $145,897.70. Following the transaction, the chief financial officer directly owned 34,896 shares in the company, valued at $5,248,707.36. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $133.00, for a total value of $266,000.00. Following the sale, the chief executive officer owned 64,799 shares of the company’s stock, valued at approximately $8,618,267. This trade represents a 2.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 22,234 shares of company stock valued at $3,203,091. Corporate insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Semtech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ABS Investment Management LLC acquired a new position in Semtech during the 2nd quarter worth $178,035,000. FNY Investment Advisers LLC lifted its position in shares of Semtech by 900.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 180 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Semtech during the 2nd quarter worth about $32,000. Allworth Financial LP bought a new stake in Semtech during the 2nd quarter valued at approximately $55,000. Finally, Allied Private Wealth LLC bought a new stake in Semtech during the 2nd quarter valued at approximately $65,000.

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.