Semtech (NASDAQ:SMTC) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Semtech (NASDAQ:SMTC) from a buy rating to a strong-buy rating in a research report released on Saturday.

Several other analysts also recently weighed in on SMTC. Morgan Stanley set a $67.00 price target on shares of Semtech in a research note on Tuesday, November 25th. Stifel Nicolaus set a $80.00 price objective on Semtech in a report on Wednesday, October 1st. Susquehanna upped their target price on Semtech from $65.00 to $80.00 and gave the stock a “positive” rating in a report on Tuesday, November 18th. Roth Capital raised their price target on Semtech from $65.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, UBS Group restated a “buy” rating on shares of Semtech in a report on Tuesday, November 25th. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.50.

Semtech Stock Up 0.7%

NASDAQ:SMTC opened at $76.07 on Friday. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 245.39 and a beta of 2.01. Semtech has a twelve month low of $24.05 and a twelve month high of $81.32. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.87. The stock has a fifty day simple moving average of $71.19 and a 200-day simple moving average of $60.40.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 24th. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Semtech had a net margin of 2.77% and a return on equity of 17.00%. The firm had revenue of $266.97 million for the quarter, compared to analysts’ expectations of $266.36 million. During the same period in the prior year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. Analysts anticipate that Semtech will post -0.02 EPS for the current year.

Insider Buying and Selling

In other news, CFO Mark Lin sold 971 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $72.83, for a total transaction of $70,717.93. Following the completion of the sale, the chief financial officer owned 17,844 shares in the company, valued at approximately $1,299,578.52. This represents a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul V. Walsh, Jr. sold 500 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $71.61, for a total value of $35,805.00. Following the completion of the sale, the director directly owned 25,779 shares of the company’s stock, valued at $1,846,034.19. The trade was a 1.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,971 shares of company stock valued at $139,643 in the last three months. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its holdings in Semtech by 3.7% in the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock worth $526,861,000 after acquiring an additional 261,647 shares in the last quarter. Capital Research Global Investors raised its position in shares of Semtech by 13.9% in the 3rd quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock valued at $335,220,000 after purchasing an additional 571,372 shares during the last quarter. State Street Corp boosted its stake in Semtech by 1.5% in the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after purchasing an additional 60,788 shares in the last quarter. Alliancebernstein L.P. grew its position in Semtech by 8.7% during the 3rd quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock worth $257,770,000 after purchasing an additional 289,313 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its position in Semtech by 23.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company’s stock worth $241,528,000 after purchasing an additional 633,113 shares during the last quarter.

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.