Northland Capmk Has Negative Outlook of Semtech Q4 Earnings

Key Points

• Northland Capital Markets has lowered its Q4 earnings estimate for Semtech to $0.54 per share, down from $0.57.
• Multiple analysts have raised their price targets for Semtech, with a consensus average target of $60.42 and a "Moderate Buy" rating from eleven analysts.
• Semtech's stock opened at $60.56, with a market cap of $5.25 billion and a 12-month trading range between $24.05 and $79.52.

Semtech Corporation (NASDAQ:SMTC - Free Report) - Equities researchers at Northland Capmk decreased their Q4 2027 earnings estimates for shares of Semtech in a research report issued to clients and investors on Tuesday, August 26th. Northland Capmk analyst G. Richard now forecasts that the semiconductor company will post earnings per share of $0.54 for the quarter, down from their prior forecast of $0.57. The consensus estimate for Semtech's current full-year earnings is ($0.02) per share.

A number of other research firms also recently weighed in on SMTC. Northland Securities increased their target price on shares of Semtech from $48.00 to $53.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Stifel Nicolaus increased their target price on shares of Semtech from $45.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Piper Sandler increased their target price on shares of Semtech from $55.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Craig Hallum increased their target price on shares of Semtech from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Finally, UBS Group reduced their price objective on shares of Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.42.

Semtech Trading Down 4.1%

NASDAQ:SMTC traded down $2.47 on Friday, reaching $58.09. 1,596,677 shares of the stock traded hands, compared to its average volume of 2,083,748. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 242.04 and a beta of 1.98. The company's 50 day moving average is $49.85 and its 200-day moving average is $40.39. The company has a current ratio of 2.53, a quick ratio of 1.78 and a debt-to-equity ratio of 0.94. Semtech has a 1-year low of $24.05 and a 1-year high of $79.52.

Insiders Place Their Bets

In related news, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value of $85,960.00. Following the transaction, the chief operating officer directly owned 105,996 shares in the company, valued at $4,555,708.08. This trade represents a 1.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Lin sold 999 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total value of $43,796.16. Following the completion of the transaction, the chief financial officer owned 17,211 shares in the company, valued at approximately $754,530.24. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Semtech

A number of large investors have recently modified their holdings of the company. Marex Group plc bought a new position in shares of Semtech in the 2nd quarter worth $203,000. State of Wyoming lifted its stake in Semtech by 13.0% during the 2nd quarter. State of Wyoming now owns 2,955 shares of the semiconductor company's stock valued at $133,000 after acquiring an additional 339 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Semtech by 2.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 11,253 shares of the semiconductor company's stock valued at $508,000 after acquiring an additional 319 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in Semtech by 8.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 295,324 shares of the semiconductor company's stock valued at $13,331,000 after acquiring an additional 22,906 shares in the last quarter. Finally, Evergreen Capital Management LLC bought a new position in Semtech during the 2nd quarter valued at $206,000.

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.