Northland Securities Downgrades Semtech (NASDAQ:SMTC) to Market Perform

Semtech (NASDAQ:SMTC) was downgraded by Northland Securities from an “outperform” rating to a “market perform” rating in a report released on Friday, MarketBeat Ratings reports.

Several other research firms also recently issued reports on SMTC. Seaport Research Partners initiated coverage on Semtech in a report on Tuesday, September 22nd. They issued a “buy” rating and a $200.00 price objective on the stock. Morgan Stanley lifted their target price on Semtech from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 26th. Oppenheimer boosted their price target on shares of Semtech from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, October 1st. Weiss Ratings lowered shares of Semtech from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Finally, New Street Research set a $230.00 price objective on shares of Semtech in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average price target of $208.06.

Semtech Stock Down 3.2%

Shares of NASDAQ SMTC opened at $187.49 on Friday. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of 124.17 and a beta of 2.41. The company’s 50-day simple moving average is $152.80 and its 200-day simple moving average is $136.04. Semtech has a 52-week low of $60.28 and a 52-week high of $201.99. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share for the quarter, topping 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 business had revenue of $341.87 million for the quarter, compared to analyst estimates of $328.67 million. During the same period last year, the company posted $0.41 EPS. The business’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. Equities analysts predict that Semtech will post 2.64 EPS for the current fiscal year.

Insider Buying and Selling at Semtech

In other Semtech news, Director Julie Ruehl sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $145.00, for a total transaction of $217,500.00. Following the transaction, the director owned 7,140 shares of the company’s stock, valued at approximately $1,035,300. This trade represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of Semtech stock in a transaction on Friday, September 4th. The shares were sold at an average price of $138.71, for a total transaction of $277,420.00. Following the completion of the transaction, the chief executive officer directly owned 60,799 shares in the company, valued at $8,433,429.29. The trade was a 3.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 10,971 shares of company stock worth $1,741,369. 0.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SMTC. Leonteq Securities AG boosted its stake in Semtech by 11.2% during the 1st quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 118 shares during the last quarter. Corient Private Wealth LP increased its position in shares of Semtech by 4.0% in the 2nd quarter. Corient Private Wealth LP now owns 3,147 shares of the semiconductor company’s stock worth $515,000 after purchasing an additional 122 shares during the last quarter. ABS Investment Management LLC bought a new position in shares of Semtech during the second quarter worth about $178,035,000. FNY Investment Advisers LLC lifted its position in shares of Semtech by 900.0% during the second 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. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Semtech in the second quarter worth about $32,000.

About Semtech

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.