Semtech’s (SMTC) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Semtech (NASDAQ:SMTC) in a research note published on Thursday,Benzinga reports. They currently have a $95.00 price target on the semiconductor company’s stock, up from their prior price target of $70.00.

Several other equities analysts also recently commented on the stock. Northland Securities upped their price objective on shares of Semtech from $48.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, August 26th. Wall Street Zen upgraded shares of Semtech from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. UBS Group reissued a “buy” rating on shares of Semtech in a report on Tuesday, November 25th. Oppenheimer restated an “outperform” rating and set a $81.00 price objective on shares of Semtech in a research report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Semtech in a research report on Monday, December 8th. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $78.50.

Semtech Trading Down 8.6%

Semtech stock opened at $72.89 on Thursday. The stock has a 50-day simple moving average of $70.31 and a 200 day simple moving average of $57.95. The stock has a market capitalization of $6.75 billion, a P/E ratio of 235.13 and a beta of 2.01. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.71 and a current ratio of 2.43. Semtech has a 52 week low of $24.05 and a 52 week high of $81.32.

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

Insiders Place Their Bets

In related news, Director Martin Burvill sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total value of $219,625.00. Following the completion of the sale, the director directly owned 6,909 shares in the company, valued at approximately $433,539.75. The trade was a 33.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul V. Walsh, Jr. sold 500 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $66.24, for a total value of $33,120.00. Following the transaction, the director owned 26,779 shares in the company, valued at approximately $1,773,840.96. This trade represents a 1.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,971 shares of company stock worth $323,463 in the last quarter. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of Semtech

A number of institutional investors have recently modified their holdings of SMTC. Vanguard Group Inc. grew its stake in Semtech by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,702,315 shares of the semiconductor company’s stock worth $402,560,000 after buying an additional 159,770 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Semtech by 3.7% during the 3rd 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 during the period. Capital Research Global Investors boosted its position in shares of Semtech by 13.9% during the 3rd quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock worth $335,220,000 after acquiring an additional 571,372 shares in the last quarter. State Street Corp increased its stake in Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after acquiring an additional 60,788 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Semtech by 8.7% in the third quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock valued at $257,770,000 after acquiring an additional 289,313 shares during the last quarter.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.