Semtech (NASDAQ:SMTC) Stock Rating Upgraded by BMO Capital Markets

Semtech (NASDAQ:SMTC - Get Free Report) was upgraded by equities research analysts at BMO Capital Markets to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

A number of other analysts have also weighed in on SMTC. Northland Securities lowered shares of Semtech from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. Robert W. Baird boosted their price target on shares of Semtech from $110.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Stifel Nicolaus upped their price target on shares of Semtech from $157.00 to $188.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Oppenheimer set a $200.00 price objective on shares of Semtech in a research note on Wednesday, May 27th. Finally, Craig Hallum lifted their price objective on shares of Semtech from $105.00 to $205.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $189.47.

Semtech Stock Down 0.6%

Shares of NASDAQ:SMTC opened at $124.09 on Thursday. The business's 50 day moving average is $137.87 and its 200 day moving average is $117.45. The stock has a market cap of $11.56 billion, a P/E ratio of -318.18 and a beta of 2.35. Semtech has a 52-week low of $49.04 and a 52-week high of $177.35. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.06. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The business had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. During the same period in the previous year, the company posted $0.38 EPS. Semtech's revenue was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Sell-side analysts predict that Semtech will post 1.81 EPS for the current year.

Insider Buying and Selling at Semtech

In other news, EVP Jason Elliot Green sold 2,264 shares of the firm's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total value of $294,093.60. Following the sale, the executive vice president directly owned 8,611 shares in the company, valued at approximately $1,118,568.90. This trade represents a 20.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul V. Walsh, Jr. sold 500 shares of Semtech stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total transaction of $82,495.00. Following the completion of the transaction, the director directly owned 28,100 shares in the company, valued at approximately $4,636,219. The trade was a 1.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 21,734 shares of company stock valued at $3,133,986. 0.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Semtech

A number of large investors have recently made changes to their positions in SMTC. Andar Capital Management HK Ltd acquired a new stake in shares of Semtech in the 2nd quarter worth $162,000,000. BlackRock Inc. purchased a new position in Semtech during the 2nd quarter worth $1,577,947,000. Think Investments LP acquired a new position in Semtech during the 3rd quarter valued at about $58,618,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Semtech by 396.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company's stock valued at $136,298,000 after buying an additional 672,447 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Semtech by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company's stock valued at $321,040,000 after buying an additional 666,456 shares during the last quarter.

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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