Semtech (NASDAQ:SMTC) Hits New 12-Month High – What’s Next?

Semtech Corporation (NASDAQ:SMTC)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $175.28 and last traded at $172.5520, with a volume of 22840 shares traded. The stock had previously closed at $166.71.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SMTC shares. Susquehanna raised their target price on Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, May 27th. Benchmark raised their target price on Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Weiss Ratings downgraded Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, March 24th. Oppenheimer set a $200.00 target price on Semtech in a research report on Wednesday, May 27th. Finally, Citigroup downgraded Semtech from a “buy” rating to a “market perform” rating in a research report on Tuesday, May 26th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $179.73.

Semtech Stock Performance

The company has a market capitalization of $15.05 billion, a PE ratio of -414.33 and a beta of 2.32. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $128.96 and a two-hundred day moving average price of $97.34.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. The company had revenue of $291.02 million during the quarter, compared to analysts’ expectations of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Analysts predict that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mark Lin sold 9,186 shares of Semtech stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $75.05, for a total value of $689,409.30. Following the completion of the transaction, the chief financial officer directly owned 32,710 shares in the company, valued at approximately $2,454,885.50. The trade was a 21.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jason Elliot Green sold 7,500 shares of Semtech stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $81.73, for a total value of $612,975.00. Following the completion of the transaction, the executive vice president owned 8,811 shares of the company’s stock, valued at approximately $720,123.03. This trade represents a 45.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 25,160 shares of company stock valued at $2,227,705 in the last 90 days. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Semtech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Argos Wealth Advisors LLC purchased a new position in Semtech during the fourth quarter worth about $640,000. Royce & Associates LP grew its position in Semtech by 144.5% during the fourth quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock worth $7,930,000 after buying an additional 63,603 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in Semtech during the third quarter worth about $4,624,000. Atreides Management LP grew its position in Semtech by 2.4% during the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company’s stock worth $48,453,000 after buying an additional 16,192 shares in the last quarter. Finally, GW&K Investment Management LLC purchased a new position in Semtech during the third quarter worth about $27,125,000.

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.