Semtech (NASDAQ:SMTC) Shares Up 6.4% – Time to Buy?

Semtech Corporation (NASDAQ:SMTC) shares traded up 6.4% during mid-day trading on Friday . The stock traded as high as $170.43 and last traded at $169.3780. Approximately 1,181,316 shares were traded during trading, a decline of 57% from the average daily volume of 2,744,295 shares. The stock had previously closed at $159.13.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SMTC shares. Craig Hallum raised their target price on shares of Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Northland Securities upgraded Semtech from a “market perform” rating to an “outperform” rating and set a $182.00 price target for the company in a report on Thursday, August 27th. Roth Capital set a $220.00 price objective on Semtech in a research report on Wednesday, August 26th. Morgan Stanley boosted their price objective on Semtech from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 26th. Finally, Oppenheimer set a $200.00 target price on Semtech in a research report on Wednesday, May 27th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $204.71.

Semtech Price Performance

The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. The stock has a market cap of $15.61 billion, a PE ratio of 110.76 and a beta of 2.35. The company’s 50 day moving average is $133.86 and its 200-day moving average is $123.36.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The company had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.67 million. During the same period in the previous year, the business 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. As a group, sell-side analysts predict that Semtech Corporation will post 2.64 earnings per share for the current year.

Insider Buying and Selling

In other news, insider John Wilson sold 5,500 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $170.00, for a total transaction of $935,000.00. Following the sale, the insider directly owned 80,876 shares in the company, valued at approximately $13,748,920. This represents a 6.37% decrease in their position. 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 2,264 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 8,611 shares in the company, valued at $1,118,568.90. This represents a 20.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,234 shares of company stock valued at $3,304,706 over the last 90 days. 0.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SMTC. Andar Capital Management HK Ltd bought a new position in Semtech in the 2nd quarter valued at about $162,000,000. California State Teachers Retirement System boosted its position in shares of Semtech by 16,868.8% during the 2nd quarter. California State Teachers Retirement System now owns 17,446,944 shares of the semiconductor company’s stock valued at $2,823,788,000 after purchasing an additional 17,344,126 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Semtech in the 2nd quarter worth approximately $1,577,947,000. Ameriprise Financial Inc. raised its holdings in shares of Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after purchasing an additional 666,456 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Semtech by 1.5% during the 2nd 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.

Semtech Company Profile

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and technology company that designs and supplies analog and mixed-signal products. Its solutions are used to manage, protect, connect and process electronic signals in infrastructure, data centers, industrial systems, automotive applications, consumer devices and communications equipment.

The company’s portfolio includes signal-integrity and connectivity products, power-management and protection devices, wireless and radio-frequency solutions, and specialized semiconductors.