Semtech (NASDAQ:SMTC) Downgraded by Wall Street Zen to “Buy”

Semtech (NASDAQ:SMTC) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

SMTC has been the subject of a number of other research reports. Morgan Stanley set a $67.00 price objective on shares of Semtech in a research note on Tuesday, November 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Semtech in a research report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price objective on shares of Semtech in a research report on Tuesday, November 25th. Benchmark lifted their target price on Semtech from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, Robert W. Baird increased their price target on shares of Semtech from $70.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

Semtech Stock Performance

SMTC stock opened at $72.89 on Friday. Semtech has a 1-year low of $24.05 and a 1-year high of $81.32. The business has a 50-day moving average price of $70.31 and a 200 day moving average price of $57.82. The company has a market capitalization of $6.75 billion, a P/E ratio of 235.13 and a beta of 2.01. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.43 and a quick ratio of 1.71.

Semtech (NASDAQ:SMTC) last posted its 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. Semtech had a net margin of 2.77% and a return on equity of 17.00%. The business had revenue of $266.97 million for the quarter, compared to the consensus estimate of $266.36 million. During the same quarter last year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. As a group, equities research analysts forecast that Semtech will post -0.02 EPS for the current fiscal year.

Insider Activity

In other Semtech news, CFO Mark Lin sold 971 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $72.83, for a total transaction of $70,717.93. Following the transaction, the chief financial officer owned 17,844 shares in the company, valued at approximately $1,299,578.52. This represents a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martin Burvill sold 3,500 shares of the firm’s stock in a transaction 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 directly owned 6,909 shares of the company’s stock, valued at approximately $433,539.75. This represents a 33.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,971 shares of company stock worth $323,463 over the last 90 days. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Semtech

Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. lifted its position in Semtech by 78.4% during the 2nd quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 287 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Semtech during the second quarter worth about $33,000. Smartleaf Asset Management LLC boosted its position in Semtech by 33.4% in the first quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 257 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in Semtech by 243.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after buying an additional 360 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in Semtech during the 3rd quarter worth approximately $41,000.

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.