Semtech (NASDAQ:SMTC) Stock Rating Upgraded by Northland Securities

Semtech (NASDAQ:SMTC) was upgraded by investment analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a $186.00 target price on the semiconductor company’s stock. Northland Securities’ price objective would indicate a potential upside of 28.98% from the company’s current price.

SMTC has been the subject of a number of other reports. New Street Research set a $230.00 price objective on shares of Semtech in a research report on Thursday, August 20th. Seaport Research Partners initiated coverage on shares of Semtech in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $200.00 price objective on the stock. Oppenheimer increased their price objective on shares of Semtech from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, October 1st. Wall Street Zen upgraded shares of Semtech from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Finally, TD Cowen lifted their target price on shares of Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.53.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $144.21 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. Semtech has a 12 month low of $60.28 and a 12 month high of $201.99. The stock has a 50 day moving average of $157.02 and a 200-day moving average of $139.23. The company has a market capitalization of $13.46 billion, a P/E ratio of 95.50 and a beta of 2.41.

Semtech (NASDAQ:SMTC) last posted 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 return on equity of 21.74% and a net margin of 13.11%. The business had revenue of $341.87 million for the quarter, compared to analyst estimates of $328.67 million. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, equities research analysts predict that Semtech will post 2.64 EPS for the current year.

Insider Activity

In related news, CEO Hong Q. Hou sold 2,000 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $138.71, for a total value of $277,420.00. Following the transaction, the chief executive officer owned 60,799 shares in the company, valued at approximately $8,433,429.29. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rodolpho C. Cardenuto sold 5,321 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $165.00, for a total value of $877,965.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 13,737 shares of company stock worth $2,267,877. 0.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Semtech

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC lifted its holdings in shares of Semtech by 900.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 180 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Semtech in the second quarter valued at approximately $32,000. Banque Cantonale Vaudoise bought a new position in Semtech in the first quarter valued at approximately $33,000. Allworth Financial LP acquired a new position in Semtech during the second quarter valued at approximately $55,000. Finally, Allied Private Wealth LLC acquired a new position in Semtech during the second quarter valued at approximately $65,000.

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.