Semtech (NASDAQ:SMTC) Stock Price Target Raised at Oppenheimer

Key Points

• Oppenheimer raised Semtech’s price target from $200 to $225 while maintaining an “outperform” rating, implying 26.16% potential upside from the reported $178.35 share price.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $206.18; 16 of 19 analysts rate the stock Buy or Strong Buy.
• Semtech exceeded quarterly expectations, reporting $0.71 in EPS versus the $0.61 consensus and revenue of $341.87 million versus $328.67 million, representing 32.7% year-over-year growth.

Semtech (NASDAQ:SMTC - Get Free Report) had its price target lifted by investment analysts at Oppenheimer from $200.00 to $225.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the semiconductor company's stock. Oppenheimer's target price suggests a potential upside of 26.16% from the stock's current price.

Other research analysts have also issued research reports about the stock. Wall Street Zen raised shares of Semtech from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 29th. TD Cowen raised their target price on Semtech from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Morgan Stanley upped their price target on Semtech from $175.00 to $195.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 26th. Weiss Ratings upgraded shares of Semtech from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, September 22nd. Finally, Benchmark reissued a "buy" rating on shares of Semtech in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $206.18.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $178.35 on Thursday. The firm has a market capitalization of $16.65 billion, a PE ratio of 118.11 and a beta of 2.35. 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 has a 1-year low of $60.28 and a 1-year high of $190.64. The business's 50 day moving average is $144.06 and its 200-day moving average is $131.29.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.61 by $0.10. The firm had revenue of $341.87 million during the quarter, compared to analysts' expectations of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%.Semtech's quarterly revenue was up 32.7% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Sell-side analysts predict that Semtech will post 2.64 earnings per share for the current year.

Insider Buying and Selling

In other Semtech news, CEO Hong Hou sold 2,000 shares of Semtech stock in a transaction on Friday, July 10th. The shares were sold at an average price of $133.00, for a total transaction of $266,000.00. Following the completion of the sale, the chief executive officer owned 64,799 shares of the company's stock, valued at approximately $8,618,267. The trade was a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rodolpho Cardenuto sold 5,321 shares of the company's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $165.00, for a total value of $877,965.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 22,768 shares of company stock worth $3,214,795. 0.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Semtech

Several large investors have recently modified their holdings of the business. Leonteq Securities AG lifted its holdings in shares of Semtech by 11.2% during the 1st quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company's stock valued at $90,000 after purchasing an additional 118 shares in the last quarter. Corient Private Wealth LP increased its position in shares of Semtech by 4.0% during the second quarter. Corient Private Wealth LP now owns 3,147 shares of the semiconductor company's stock worth $515,000 after acquiring an additional 122 shares in the last quarter. ABS Investment Management LLC acquired a new stake in shares of Semtech during the second quarter worth $178,035,000. FNY Investment Advisers LLC boosted its stake in Semtech by 900.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 180 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Semtech during the 2nd quarter worth about $32,000.

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.

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