Summit Insights Upgrades Semtech (NASDAQ:SMTC) to Buy

Semtech (NASDAQ:SMTC) was upgraded by equities researchers at Summit Insights from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports.

A number of other research firms have also recently issued reports on SMTC. Susquehanna upped their price target on shares of Semtech from $65.00 to $80.00 and gave the company a “positive” rating in a report on Tuesday, November 18th. Roth Capital increased their price objective on Semtech from $65.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Semtech in a research report on Wednesday, October 8th. Oppenheimer upgraded shares of Semtech from a “market perform” rating to an “outperform” rating and set a $81.00 target price for the company in a research note on Tuesday, September 30th. Finally, Craig Hallum raised their price target on shares of Semtech from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Fifteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.71.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $73.45 on Tuesday. The business’s 50-day simple moving average is $67.58 and its 200-day simple moving average is $54.81. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.78 and a current ratio of 2.53. Semtech has a 52 week low of $24.05 and a 52 week high of $79.52. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 306.04 and a beta of 2.03.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, November 24th. The semiconductor company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $266.97 million for the quarter, compared to analyst estimates of $266.36 million. Semtech had a net margin of 2.38% and a return on equity of 18.28%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. As a group, equities research analysts expect that Semtech will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Semtech

In related news, Director Martin Burvill sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $62.75, for a total transaction of $219,625.00. Following the completion of the transaction, the director owned 6,909 shares in the company, valued at $433,539.75. This trade represents a 33.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lin sold 971 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $72.83, for a total value of $70,717.93. Following the completion of the sale, the chief financial officer directly owned 17,844 shares in the company, valued at approximately $1,299,578.52. This represents a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 4,971 shares of company stock valued at $323,463. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Semtech

Several institutional investors have recently added to or reduced their stakes in SMTC. CWM LLC grew its stake in Semtech by 23.3% during the first quarter. CWM LLC now owns 3,751 shares of the semiconductor company’s stock worth $129,000 after buying an additional 709 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Semtech by 21.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,976 shares of the semiconductor company’s stock worth $790,000 after acquiring an additional 4,037 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in Semtech during the 1st quarter valued at $1,703,000. N.E.W. Advisory Services LLC acquired a new stake in Semtech during the 1st quarter valued at $418,000. Finally, Federated Hermes Inc. raised its position in Semtech by 50.8% in the 1st quarter. Federated Hermes Inc. now owns 189,745 shares of the semiconductor company’s stock valued at $6,527,000 after purchasing an additional 63,897 shares during the last quarter.

About Semtech

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.