Semtech (NASDAQ:SMTC) Given New $200.00 Price Target at Stifel Nicolaus

Semtech (NASDAQ:SMTC) had its price target cut by analysts at Stifel Nicolaus from $220.00 to $200.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 38.69% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets lifted their price objective on Semtech from $155.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday. Weiss Ratings lowered Semtech from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, October 6th. Morgan Stanley upped their target price on shares of Semtech from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 26th. New Street Research set a $230.00 target price on shares of Semtech in a research note on Thursday, August 20th. Finally, Robert W. Baird raised their price target on shares of Semtech from $225.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.53.

Semtech Stock Performance

Shares of SMTC opened at $144.21 on Friday. The company has a market cap of $13.46 billion, a price-to-earnings ratio of 95.50 and a beta of 2.41. The business’s fifty day simple moving average is $157.02 and its two-hundred day simple moving average is $139.23. Semtech has a 12 month low of $60.28 and a 12 month high of $201.99. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share 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 firm had revenue of $341.87 million during the quarter, compared to analysts’ expectations of $328.67 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company’s revenue was up 32.7% on a year-over-year basis. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Research analysts anticipate that Semtech will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Rodolpho Cardenuto sold 5,321 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $877,965.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Lin sold 967 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $178.87, for a total value of $172,967.29. Following the completion of the transaction, the chief financial officer directly owned 35,999 shares in the company, valued at approximately $6,439,141.13. This represents a 2.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,737 shares of company stock valued at $2,267,877 over the last ninety days. 0.44% of the stock is owned by insiders.

Institutional Investors Weigh In On Semtech

Several hedge funds and other institutional investors have recently made changes to their positions in SMTC. Andar Capital Management HK Ltd bought a new position in shares of Semtech in the 2nd quarter worth approximately $162,000,000. BlackRock Inc. purchased a new position in shares of Semtech in the second quarter worth approximately $1,577,947,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Semtech by 396.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company’s stock worth $136,298,000 after buying an additional 672,447 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Semtech by 323.0% during the first quarter. Assenagon Asset Management S.A. now owns 781,003 shares of the semiconductor company’s stock valued at $60,051,000 after buying an additional 596,373 shares during the period. Finally, Jennison Associates LLC grew its position in Semtech by 15.6% during the first quarter. Jennison Associates LLC now owns 744,380 shares of the semiconductor company’s stock valued at $57,235,000 after buying an additional 100,552 shares during the period.

Semtech Company Profile

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.