Semtech (NASDAQ:SMTC) Stock Rating Upgraded by BMO Capital Markets

Semtech (NASDAQ:SMTC) was upgraded by equities researchers at BMO Capital Markets to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

A number of other analysts also recently issued reports on SMTC. Zacks Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Oppenheimer set a $200.00 price target on shares of Semtech in a research report on Wednesday, May 27th. Citigroup downgraded shares of Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. Benchmark reissued a “buy” rating on shares of Semtech in a research report on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Semtech in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average price target of $189.47.

Semtech Price Performance

SMTC stock opened at $124.09 on Thursday. The company has a market cap of $11.56 billion, a PE ratio of -318.18 and a beta of 2.35. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average price of $137.87 and a two-hundred day moving average price of $117.45. Semtech has a 12-month low of $49.04 and a 12-month high of $177.35.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $291.02 million for the quarter, compared to the consensus estimate of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, research analysts predict that Semtech will post 1.81 EPS for the current year.

Insider Transactions at Semtech

In other Semtech news, CFO Mark Lin sold 970 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total value of $145,897.70. Following the transaction, the chief financial officer owned 34,896 shares in the company, valued at $5,248,707.36. The trade was a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the completion of the transaction, the chief operating officer directly owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. The trade was a 8.07% decrease in their ownership of the stock. 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. Insiders have sold a total of 21,734 shares of company stock worth $3,133,986 over the last three months. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Semtech

A number of hedge funds have recently bought and sold shares of the business. Andar Capital Management HK Ltd purchased a new stake in Semtech during the 2nd quarter worth approximately $162,000,000. Vanguard Group Inc. raised its position in shares of Semtech by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock valued at $873,842,000 after purchasing an additional 298,987 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Semtech in the 2nd quarter valued at approximately $1,577,947,000. Ameriprise Financial Inc. boosted its stake in shares of Semtech by 10.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after buying an additional 666,456 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Semtech by 1.5% during the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after buying an additional 60,788 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.