Semtech Corporation (NASDAQ:SMTC) Stock Has Average Target Price of $204.71

Shares of Semtech Corporation (NASDAQ:SMTC) have been given a consensus rating of “Moderate Buy” by the nineteen ratings firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $206.18.

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $200.00 price target on shares of Semtech in a research note on Wednesday, August 26th. TD Cowen lifted their target price on Semtech from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Morgan Stanley increased their price target on shares of Semtech from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 26th. BMO Capital Markets assumed coverage on shares of Semtech in a report on Wednesday, August 26th. They issued an “outperform” rating and a $155.00 price target on the stock. Finally, New Street Research set a $230.00 price objective on shares of Semtech in a research note on Thursday, August 20th.

Semtech Stock Up 4.4%

NASDAQ:SMTC opened at $194.88 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31. The firm’s 50-day moving average price is $146.40 and its 200-day moving average price is $132.45. The company has a market capitalization of $18.19 billion, a PE ratio of 129.06 and a beta of 2.41. Semtech has a 1-year low of $60.28 and a 1-year high of $201.99.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (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 during the quarter, compared to analysts’ expectations of $328.67 million. During the same period last year, the company posted $0.41 EPS. Semtech’s revenue was up 32.7% on a year-over-year basis. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, equities analysts predict that Semtech will post 2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Jason Elliot Green sold 2,264 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total transaction of $294,093.60. Following the transaction, the executive vice president directly owned 8,611 shares in the company, valued at $1,118,568.90. The trade was a 20.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julie Ruehl sold 1,500 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $145.00, for a total transaction of $217,500.00. Following the completion of the transaction, the director directly owned 7,140 shares of the company’s stock, valued at approximately $1,035,300. This represents a 17.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 22,768 shares of company stock valued at $3,214,795. 0.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Semtech

Several hedge funds and other institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC raised its holdings in shares of Semtech by 900.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 180 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Semtech during the second quarter worth about $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of Semtech during the first quarter worth about $33,000. IFP Advisors Inc purchased a new position in shares of Semtech in the fourth quarter valued at approximately $53,000. Finally, Allworth Financial LP purchased a new position in shares of Semtech in the second quarter valued at approximately $55,000.

Semtech Company Profile

Semtech Corporation is a global semiconductor and technology company that designs and supplies analog and mixed-signal products for communications, industrial, automotive, consumer, and infrastructure applications. Its solutions are used to manage, protect, connect, and transmit data in electronic systems.

The company’s portfolio includes signal-integrity products, protection devices, power-management components, optical and high-speed connectivity solutions, and video-processing technologies.