Needham & Company LLC Boosts Semtech (NASDAQ:SMTC) Price Target to $200.00

Key Points

• Needham & Company raised its price target on Semtech from $105 to $200 and kept a buy rating, implying about 21.6% upside from the prior close.
• Semtech’s latest quarterly results beat expectations, with EPS of $0.51 versus the $0.45 estimate and revenue of $291 million topping forecasts; revenue also rose 15.9% year over year.
• Analyst sentiment remains mostly positive overall, with 13 Buy ratings versus three Hold and one Sell, though Northland Securities recently downgraded the stock to market perform.

Semtech (NASDAQ:SMTC - Get Free Report) had its price objective boosted by investment analysts at Needham & Company LLC from $105.00 to $200.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price objective indicates a potential upside of 21.61% from the stock's previous close.

Other equities analysts have also issued reports about the company. Craig Hallum boosted their price target on Semtech from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, March 17th. Northland Securities downgraded shares of Semtech from an "outperform" rating to a "market perform" rating in a research note on Tuesday. UBS Group upped their price objective on shares of Semtech from $105.00 to $165.00 and gave the company a "buy" rating in a report on Monday, May 18th. Robert W. Baird raised their target price on Semtech from $88.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of Semtech in a research report on Tuesday, May 12th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Semtech presently has an average rating of "Moderate Buy" and a consensus target price of $141.67.

Semtech Price Performance

Semtech stock opened at $164.46 on Wednesday. The stock's 50 day moving average is $104.05 and its 200 day moving average is $87.58. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.37 and a quick ratio of 1.66. The firm has a market cap of $15.31 billion, a P/E ratio of -373.77 and a beta of 2.22. Semtech has a one year low of $34.59 and a one year high of $168.29.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.06. Semtech had a positive return on equity of 18.09% and a negative net margin of 3.86%.The company had revenue of $291.00 million for the quarter, compared to analyst estimates of $283.53 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm's quarterly revenue was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, research analysts expect that Semtech will post 1.6 EPS for the current year.

Insider Activity at Semtech

In other news, Director Paul V. Walsh, Jr. sold 500 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total transaction of $69,105.00. Following the transaction, the director directly owned 23,279 shares of the company's stock, valued at $3,217,390.59. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total value of $612,975.00. Following the transaction, the executive vice president directly owned 8,811 shares in the company, valued at $720,123.03. The trade was a 45.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,884 shares of company stock valued at $3,069,245 over the last three months. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Semtech

Several institutional investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA grew its holdings in Semtech by 3.3% during the first quarter. Glenmede Trust Co. NA now owns 18,432 shares of the semiconductor company's stock worth $1,417,000 after buying an additional 589 shares in the last quarter. E20 Capital Ltd bought a new stake in Semtech during the first quarter worth $21,809,000. Janus Henderson Group PLC grew its holdings in Semtech by 10.2% during the first quarter. Janus Henderson Group PLC now owns 61,443 shares of the semiconductor company's stock worth $4,723,000 after buying an additional 5,699 shares in the last quarter. California State Teachers Retirement System grew its holdings in Semtech by 24.8% during the first quarter. California State Teachers Retirement System now owns 102,818 shares of the semiconductor company's stock worth $7,906,000 after buying an additional 20,408 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Semtech by 53.1% during the first quarter. Quantinno Capital Management LP now owns 14,342 shares of the semiconductor company's stock worth $1,103,000 after buying an additional 4,973 shares in the last quarter.

More Semtech News

Here are the key news stories impacting Semtech this week:

• Positive Sentiment: Semtech delivered a beat-and-raise quarter, with Q1 earnings and revenue both above estimates and Q2 guidance well above expectations. Semtech Announces First Quarter of Fiscal Year 2027 Results
• Positive Sentiment: Management pointed to faster data center growth, driven by 800G FiberEdge and 1.6T ramps, which supports a stronger second-half outlook. SMTC Q1 Earnings Call Flags Faster Data Center Growth
• Positive Sentiment: UBS and Baird both reiterated bullish ratings and raised their price targets to $225, signaling rising confidence in the company’s optical and data center momentum. Semtech Price Target Raised to $225...
• Neutral Sentiment: Northland Securities downgraded the stock to market perform, which partially offsets the otherwise positive post-earnings analyst tone.

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.

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