Semtech (NASDAQ:SMTC) Lowered to Buy Rating by Wall Street Zen

Semtech (NASDAQ:SMTC) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

SMTC has been the subject of several other reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Semtech in a research note on Monday, December 29th. Susquehanna raised their target price on Semtech from $65.00 to $80.00 and gave the company a “positive” rating in a research note on Tuesday, November 18th. Roth Capital boosted their target price on Semtech from $65.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Robert W. Baird upped their price target on Semtech from $70.00 to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Finally, UBS Group reissued a “buy” rating on shares of Semtech in a research note on Tuesday, November 25th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Semtech presently has an average rating of “Moderate Buy” and an average target price of $78.50.

Semtech Trading Up 7.8%

NASDAQ SMTC opened at $77.79 on Friday. The stock has a market capitalization of $7.20 billion, a P/E ratio of 250.94 and a beta of 2.01. The business has a 50 day simple moving average of $72.54 and a 200 day simple moving average of $62.63. 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 has a one year low of $24.05 and a one year high of $81.32.

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

Insider Buying and Selling

In other Semtech news, Director Saar Gillai sold 3,600 shares of Semtech stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $75.26, for a total transaction of $270,936.00. Following the transaction, the director directly owned 9,523 shares of the company’s stock, valued at $716,700.98. The trade was a 27.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul V. Walsh, Jr. sold 500 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $71.61, for a total transaction of $35,805.00. Following the completion of the sale, the director owned 25,779 shares of the company’s stock, valued at approximately $1,846,034.19. The trade was a 1.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 5,933 shares of company stock worth $441,436. 0.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in Semtech by 3.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock valued at $526,861,000 after buying an additional 261,647 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Semtech by 13.9% in the third quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock valued at $335,220,000 after acquiring an additional 571,372 shares in the last quarter. State Street Corp increased its position in shares of Semtech by 1.5% during the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after acquiring an additional 60,788 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Semtech by 8.7% during the third quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock valued at $257,770,000 after acquiring an additional 289,313 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in Semtech by 23.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company’s stock worth $241,528,000 after acquiring an additional 633,113 shares during the period.

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.