Semtech (NASDAQ:SMTC) Price Target Raised to $225.00

Semtech (NASDAQ:SMTC) had its price target raised by Oppenheimer from $200.00 to $225.00 in a research note released on Thursday morning,Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

SMTC has been the topic of a number of other reports. Weiss Ratings upgraded shares of Semtech from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Benchmark restated a “buy” rating on shares of Semtech in a report on Thursday, August 20th. Morgan Stanley raised their target price on shares of Semtech from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 26th. Northland Securities upgraded shares of Semtech from a “market perform” rating to an “outperform” rating and set a $182.00 price target on the stock in a research note on Thursday, August 27th. Finally, Zacks Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.18.

Semtech Stock Up 4.4%

NASDAQ:SMTC opened at $194.88 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70. The company has a market cap of $18.19 billion, a PE ratio of 129.06 and a beta of 2.41. Semtech has a 52-week low of $60.28 and a 52-week high of $201.99. The stock has a 50-day simple moving average of $146.40 and a 200 day simple moving average of $132.45.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating 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 quarter last year, the firm earned $0.41 EPS. Semtech’s revenue for the quarter was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, sell-side analysts expect that Semtech will post 2.64 EPS for the current fiscal year.

Insider Activity at Semtech

In related news, Director Julie Ruehl sold 1,500 shares of Semtech stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $145.00, for a total transaction of $217,500.00. Following the completion of the transaction, the director owned 7,140 shares in the company, valued at approximately $1,035,300. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,264 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total value of $294,093.60. Following the transaction, the executive vice president directly owned 8,611 shares in the company, valued at approximately $1,118,568.90. This trade represents a 20.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,768 shares of company stock worth $3,214,795 over the last ninety days. Company insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SMTC. Cim Investment Management Inc. acquired a new position in shares of Semtech during the 2nd quarter worth approximately $319,000. SkyView Investment Advisors LLC bought a new stake in Semtech in the 2nd quarter valued at $283,000. Sequoia Financial Advisors LLC acquired a new stake in Semtech during the 2nd quarter valued at $374,000. Tidal Investments LLC acquired a new stake in Semtech during the 2nd quarter valued at $22,728,000. Finally, IPG Investment Advisors LLC bought a new position in Semtech during the second quarter worth $296,000.

About Semtech

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.