Semtech (NASDAQ:SMTC) Hits New 12-Month High – What’s Next?

Semtech Corporation (NASDAQ:SMTC) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $84.88 and last traded at $82.9950, with a volume of 79319 shares trading hands. The stock had previously closed at $81.98.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SMTC shares. Benchmark lifted their target price on shares of Semtech from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Robert W. Baird lifted their price target on Semtech from $70.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. B. Riley lifted their target price on Semtech from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Piper Sandler reaffirmed an “overweight” rating and set a $95.00 price target (up from $70.00) on shares of Semtech in a report on Thursday, December 11th. Finally, Stifel Nicolaus lifted their price objective on Semtech from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.21.

Semtech Trading Up 1.6%

The firm has a market capitalization of $7.71 billion, a P/E ratio of 270.06 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 stock has a 50 day simple moving average of $75.67 and a 200-day simple moving average of $65.89.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data 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. Semtech had a net margin of 2.77% and a return on equity of 17.00%. The company 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 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. On average, equities research analysts forecast that Semtech Corporation will post -0.02 EPS for the current fiscal year.

Insider Activity

In other news, COO Asaf Silberstein sold 5,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $83.00, for a total value of $415,000.00. Following the completion of the sale, the chief operating officer directly owned 88,496 shares in the company, valued at $7,345,168. This represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $270,936.00. Following the transaction, the director owned 9,523 shares in the company, valued at $716,700.98. This trade represents a 27.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,967 shares of company stock worth $1,316,108. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. M&T Bank Corp purchased a new stake in Semtech in the 4th quarter worth approximately $246,000. Pictet Asset Management Holding SA boosted its position in shares of Semtech by 10.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 13,558 shares of the semiconductor company’s stock worth $999,000 after purchasing an additional 1,271 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in shares of Semtech by 2.4% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 21,711 shares of the semiconductor company’s stock worth $1,600,000 after purchasing an additional 503 shares during the period. Vanguard Group Inc. increased its stake in shares of Semtech by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock worth $873,842,000 after purchasing an additional 298,987 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Semtech by 2.3% during the 4th quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 136 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.