B. Riley Analysts Raise Earnings Estimates for Semtech

Semtech Co. (NASDAQ:SMTC - Free Report) - Research analysts at B. Riley upped their Q2 2026 EPS estimates for shares of Semtech in a note issued to investors on Wednesday, May 28th. B. Riley analyst C. Ellis now anticipates that the semiconductor company will post earnings of $0.26 per share for the quarter, up from their prior forecast of $0.22. The consensus estimate for Semtech's current full-year earnings is ($0.02) per share. B. Riley also issued estimates for Semtech's Q3 2026 earnings at $0.29 EPS, Q4 2026 earnings at $0.29 EPS, FY2026 earnings at $1.16 EPS, Q1 2027 earnings at $0.25 EPS, Q2 2027 earnings at $0.30 EPS, Q3 2027 earnings at $0.45 EPS, Q4 2027 earnings at $0.43 EPS and FY2027 earnings at $1.42 EPS.

Several other brokerages have also issued reports on SMTC. Robert W. Baird cut their target price on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Stifel Nicolaus increased their target price on shares of Semtech from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. UBS Group cut their target price on shares of Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Piper Sandler reissued an "overweight" rating and set a $55.00 target price (down from $75.00) on shares of Semtech in a research note on Monday, February 10th. Finally, Needham & Company LLC reissued a "buy" rating and set a $54.00 target price on shares of Semtech in a research note on Wednesday, May 28th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $58.58.

Semtech Price Performance

Shares of SMTC traded down $0.77 during trading hours on Monday, hitting $37.58. 1,426,386 shares of the stock were exchanged, compared to its average volume of 2,185,442. Semtech has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The business has a 50-day moving average of $33.01 and a 200-day moving average of $46.76. The firm has a market capitalization of $3.26 billion, a P/E ratio of -2.88, a price-to-earnings-growth ratio of 2.12 and a beta of 1.88.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. Semtech's revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.06) earnings per share.

Institutional Trading of Semtech

Several hedge funds have recently modified their holdings of SMTC. Whale Rock Capital Management LLC increased its holdings in shares of Semtech by 364.2% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company's stock valued at $202,015,000 after acquiring an additional 2,562,602 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Semtech by 827.0% during the fourth quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company's stock valued at $132,550,000 after acquiring an additional 1,911,890 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Semtech by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company's stock valued at $713,906,000 after acquiring an additional 1,326,226 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Semtech during the first quarter valued at about $45,489,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Semtech by 15.8% during the first quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company's stock valued at $221,737,000 after acquiring an additional 877,422 shares in the last quarter.

Insider Activity at Semtech

In other news, CFO Mark Lin sold 2,907 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $37.71, for a total transaction of $109,622.97. Following the completion of the sale, the chief financial officer now directly owns 13,481 shares of the company's stock, valued at approximately $508,368.51. The trade was a 17.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by insiders.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.