Semtech (NASDAQ:SMTC) Shares Gap Up Following Analyst Upgrade

Semtech Corporation (NASDAQ:SMTC) gapped up before the market opened on Monday after Northland Securities upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $136.73, but opened at $144.62. Northland Securities now has a $186.00 price target on the stock. Semtech shares last traded at $141.0140, with a volume of 406,175 shares traded.

SMTC has been the subject of a number of other research reports. Weiss Ratings downgraded Semtech from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, October 6th. BMO Capital Markets increased their target price on Semtech from $155.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, October 13th. Seaport Research Partners assumed coverage on shares of Semtech in a research report on Tuesday, September 22nd. They set a “buy” rating and a $200.00 price target for the company. Oppenheimer lifted 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. Finally, Zacks Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.11.

Insider Buying and Selling at Semtech

In other Semtech news, 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 value of $277,420.00. Following the completion of the transaction, the chief executive officer owned 60,799 shares of the company’s stock, valued at $8,433,429.29. The trade was a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 967 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $178.87, for a total transaction of $172,967.29. Following the sale, the chief financial officer directly owned 35,999 shares in the company, valued at $6,439,141.13. This trade represents a 2.62% 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 90 days, insiders sold 13,737 shares of company stock worth $2,267,877. 0.44% of the stock is owned by insiders.

Institutional Investors Weigh In On Semtech

A number of institutional investors have recently modified their holdings of the business. IFP Advisors Inc grew its holdings in shares of Semtech by 30.7% during the third quarter. IFP Advisors Inc now owns 936 shares of the semiconductor company’s stock valued at $167,000 after purchasing an additional 220 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Semtech by 21.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 4,876 shares of the semiconductor company’s stock worth $911,000 after purchasing an additional 865 shares during the period. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Semtech in the 3rd quarter worth approximately $53,000. Assenagon Asset Management S.A. lifted its holdings in shares of Semtech by 56.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 546,422 shares of the semiconductor company’s stock worth $97,454,000 after purchasing an additional 196,734 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Semtech by 23.3% in the 3rd quarter. GAMMA Investing LLC now owns 6,045 shares of the semiconductor company’s stock worth $1,078,000 after purchasing an additional 1,142 shares during the last quarter.

Semtech Stock Up 4.2%

The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 94.20 and a beta of 2.41. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average of $156.97 and a 200-day moving average of $139.69.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.61 by $0.10. The business had revenue of $341.87 million during the quarter, compared to analyst estimates of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The company’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, sell-side analysts forecast that Semtech Corporation will post 2.75 EPS for the current fiscal year.

Semtech Company Profile

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and infrastructure technology company that develops analog and mixed-signal products for communications, industrial, data center, consumer, and automotive applications. Its portfolio is designed to improve connectivity, power efficiency, signal integrity, and protection in electronic systems.

The company’s products include high-speed connectivity solutions for data centers and communications networks, power management and protection devices, signal integrity components, and wireless and radio-frequency technologies.