Semtech (NASDAQ:SMTC) Trading 8% Higher – Time to Buy?

Semtech Corporation (NASDAQ:SMTC) shares were up 8% during mid-day trading on Monday . The company traded as high as $171.33 and last traded at $170.9640. Approximately 837,056 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 2,549,990 shares. The stock had previously closed at $158.23.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SMTC shares. Benchmark boosted their price target on shares of Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Roth Mkm increased their price objective on shares of Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Mizuho set a $225.00 target price on Semtech in a report on Wednesday, May 27th. B. Riley Financial upped their target price on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Oppenheimer set a $200.00 price target on Semtech in a research note on Wednesday, May 27th. 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 data from MarketBeat, Semtech presently has an average rating of “Moderate Buy” and an average target price of $189.07.

Semtech Stock Performance

The company’s 50-day simple moving average is $133.24 and its 200-day simple moving average is $99.08. The stock has a market cap of $16.30 billion, a price-to-earnings ratio of -448.71 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.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. The business had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The company’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. 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.

Insiders Place Their Bets

In other Semtech news, EVP Jason Elliot Green sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $81.73, for a total transaction of $612,975.00. Following the completion of the sale, the executive vice president directly owned 8,811 shares of the company’s stock, valued at approximately $720,123.03. This represents a 45.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hong Q. Hou sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $90.11, for a total transaction of $180,220.00. Following the completion of the transaction, the chief executive officer owned 73,228 shares of the company’s stock, valued at approximately $6,598,575.08. The trade was a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,160 shares of company stock worth $2,227,705 over the last three months. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Semtech

A number of large investors have recently made changes to their positions in SMTC. Banque Cantonale Vaudoise purchased a new position in Semtech during the 1st quarter worth approximately $33,000. Jones Financial Companies Lllp boosted its position in shares of Semtech by 65.5% in the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after buying an additional 235 shares during the period. Assetmark Inc. boosted its position in shares of Semtech by 1,745.5% in the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock worth $44,000 after buying an additional 576 shares during the period. IFP Advisors Inc purchased a new position in shares of Semtech during the fourth quarter valued at $53,000. Finally, Huntington National Bank raised its position in Semtech by 151.3% during the third quarter. Huntington National Bank now owns 749 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 451 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.