Semtech (NASDAQ:SMTC) Downgraded by Wall Street Zen to “Buy”

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

SMTC has been the subject of several other reports. UBS Group restated a “buy” rating on shares of Semtech in a research report on Tuesday, November 25th. Robert W. Baird boosted their price target on Semtech from $70.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. B. Riley raised their price objective on Semtech from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Summit Insights raised Semtech from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. Finally, Benchmark raised their price target on shares of Semtech from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and a consensus price target of $78.50.

Semtech Stock Up 7.8%

Shares of NASDAQ SMTC opened at $77.79 on Friday. The stock has a market capitalization of $7.20 billion, a P/E ratio of 250.94 and a beta of 2.01. The stock’s fifty day moving average is $72.54 and its 200 day moving average is $62.76. Semtech has a 52 week low of $24.05 and a 52 week high of $81.32. 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 (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 24th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $266.97 million for the quarter, compared to the consensus estimate of $266.36 million. Semtech had a net margin of 2.77% and a return on equity of 17.00%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. Sell-side analysts forecast that Semtech will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Semtech

In other news, CFO Mark Lin sold 1,333 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $76.20, for a total value of $101,574.60. Following the completion of the transaction, the chief financial officer owned 18,477 shares of the company’s stock, valued at $1,407,947.40. This represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul V. Walsh, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $71.61, for a total transaction of $35,805.00. Following the completion of the transaction, the director owned 25,779 shares of the company’s stock, valued at approximately $1,846,034.19. This trade represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 5,933 shares of company stock worth $441,436. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Semtech

A number of hedge funds have recently modified their holdings of SMTC. Bessemer Group Inc. increased its holdings in Semtech by 78.4% in the second quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 287 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Semtech in the second quarter valued at about $33,000. Hantz Financial Services Inc. raised its position in shares of Semtech by 243.2% during the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 360 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of Semtech during the third quarter worth about $41,000. Finally, AlphaQuest LLC lifted its stake in shares of Semtech by 42.5% in the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 173 shares during the period.

Semtech Company Profile

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.