Semtech (NASDAQ:SMTC) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Semtech (NASDAQ:SMTC - Get Free Report) issued its earnings results on Tuesday. The semiconductor company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.10, Zacks reports. The business had revenue of $251.10 million during the quarter, compared to analyst estimates of $249.79 million. Semtech's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. Semtech updated its Q2 2026 guidance to 0.370-0.43 EPS.

Semtech Stock Up 0.6%

Shares of NASDAQ:SMTC traded up $0.20 on Friday, reaching $35.96. The company had a trading volume of 1,220,469 shares, compared to its average volume of 2,178,564. Semtech has a twelve month low of $24.05 and a twelve month high of $79.52. The stock has a 50-day moving average price of $32.95 and a 200 day moving average price of $47.08. The stock has a market capitalization of $3.12 billion, a P/E ratio of -2.75, a P/E/G ratio of 2.12 and a beta of 1.88.

Insiders Place Their Bets

In other Semtech news, CFO Mark Lin sold 2,907 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the sale, the chief financial officer now owns 13,481 shares of the company's stock, valued at $508,368.51. The trade was a 17.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Semtech

A number of institutional investors have recently made changes to their positions in SMTC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Semtech by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company's stock valued at $14,166,000 after acquiring an additional 22,629 shares during the period. Empowered Funds LLC grew its stake in shares of Semtech by 11.5% in the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company's stock worth $323,000 after acquiring an additional 968 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Semtech by 12,214.3% in the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company's stock worth $89,000 after acquiring an additional 2,565 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Semtech in the first quarter worth $65,000.

Analyst Ratings Changes

A number of brokerages recently commented on SMTC. Robert W. Baird lowered their price objective on shares of Semtech from $80.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Benchmark restated a "buy" rating and set a $68.00 price target on shares of Semtech in a report on Wednesday. Piper Sandler reaffirmed an "overweight" rating and issued a $55.00 price target (down from $75.00) on shares of Semtech in a research note on Monday, February 10th. Needham & Company LLC reissued a "buy" rating and set a $54.00 price objective on shares of Semtech in a research report on Wednesday. Finally, Stifel Nicolaus lifted their price objective on Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Semtech presently has an average rating of "Moderate Buy" and an average target price of $58.58.

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.