Semtech’s (SMTC) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Semtech (NASDAQ:SMTC) in a research report sent to investors on Thursday morning,Benzinga reports. Piper Sandler currently has a $95.00 price objective on the semiconductor company’s stock, up from their previous price objective of $70.00.

A number of other equities analysts have also recently weighed in on SMTC. Weiss Ratings restated a “hold (c-)” rating on shares of Semtech in a report on Monday. Summit Insights upgraded shares of Semtech from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. Benchmark raised their price target on shares of Semtech from $76.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. UBS Group reiterated a “buy” rating on shares of Semtech in a report on Tuesday, November 25th. Finally, Stifel Nicolaus set a $80.00 target price on Semtech in a research note on Wednesday, October 1st. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

Semtech Stock Up 0.4%

Shares of Semtech stock opened at $79.77 on Thursday. Semtech has a twelve month low of $24.05 and a twelve month high of $81.32. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 257.32 and a beta of 2.01. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.87. The company has a fifty day moving average price of $70.29 and a 200 day moving average price of $57.57.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, November 24th. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Semtech had a return on equity of 17.00% and a net margin of 2.77%.The company had revenue of $266.97 million for the quarter, compared to analysts’ expectations of $266.36 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. Equities research analysts forecast that Semtech will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mark Lin sold 971 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was 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 of the company’s stock, valued at $1,299,578.52. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Martin Burvill sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $62.75, for a total value of $219,625.00. Following the sale, the director owned 6,909 shares in the company, valued at $433,539.75. The trade was a 33.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,971 shares of company stock worth $323,463. 0.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Semtech

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Semtech by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,702,315 shares of the semiconductor company’s stock worth $402,560,000 after purchasing an additional 159,770 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Semtech by 3.7% during the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock valued at $526,861,000 after purchasing an additional 261,647 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Semtech by 13.9% during the third quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock worth $335,220,000 after purchasing an additional 571,372 shares during the period. State Street Corp lifted its position in shares of Semtech by 1.5% in the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after buying an additional 60,788 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Semtech by 8.7% in the 3rd quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock worth $257,770,000 after buying an additional 289,313 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.