Semtech (NASDAQ:SMTC) Shares Up 12.1% – Time to Buy?

Semtech Corporation (NASDAQ:SMTC)’s stock price was up 12.1% on Thursday . The stock traded as high as $137.15 and last traded at $135.9040. 1,831,613 shares were traded during trading, a decline of 32% from the average session volume of 2,679,306 shares. The stock had previously closed at $121.25.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 price target on shares of Semtech in a research note on Monday, July 13th. Mizuho set a $225.00 target price on Semtech in a research report on Wednesday, May 27th. Benchmark lifted their target price on shares of Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Oppenheimer set a $200.00 target price on shares of Semtech in a report on Wednesday, May 27th. Finally, UBS Group lifted their price target on shares of Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.07.

Semtech Stock Performance

The business has a 50 day moving average of $143.09 and a 200-day moving average of $113.67. The company has a market capitalization of $12.99 billion, a P/E ratio of -357.49 and a beta of 2.35. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $291.02 million for the quarter, compared to analysts’ expectations of $283.53 million. During the same quarter last year, the firm posted $0.38 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, sell-side analysts predict that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Insider Buying and Selling at Semtech

In other Semtech news, COO Asaf Silberstein sold 8,500 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the completion of the sale, the chief operating officer owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. The trade was a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of Semtech stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total transaction of $145,897.70. Following the transaction, the chief financial officer owned 34,896 shares in the company, valued at approximately $5,248,707.36. This trade represents a 2.70% 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. Insiders sold 22,234 shares of company stock worth $3,203,091 in the last 90 days. Insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Semtech

Several institutional investors have recently added to or reduced their stakes in the company. Andar Capital Management HK Ltd acquired a new position in shares of Semtech during the 2nd quarter worth approximately $162,000,000. BlackRock Inc. acquired a new stake in shares of Semtech in the second quarter valued at approximately $1,577,947,000. Think Investments LP purchased a new position in Semtech during the third quarter worth approximately $58,618,000. Ameriprise Financial Inc. lifted its position in Semtech by 10.3% during the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after buying an additional 666,456 shares in the last quarter. Finally, Atreides Management LP acquired a new position in Semtech during the second quarter worth $29,880,000.

About Semtech

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.