TD Cowen Reaffirms Buy Rating for Semtech (NASDAQ:SMTC)

Semtech (NASDAQ:SMTC)‘s stock had its “buy” rating reaffirmed by research analysts at TD Cowen in a research note issued on Friday, Benzinga reports. They presently have a $215.00 target price on the semiconductor company’s stock. TD Cowen‘s target price points to a potential upside of 51.80% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Benchmark reaffirmed a “buy” rating on shares of Semtech in a research report on Thursday, August 20th. Robert W. Baird increased their price target on shares of Semtech from $225.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Northland Securities raised shares of Semtech from a “market perform” rating to an “outperform” rating and set a $186.00 price objective on the stock in a research report on Friday, October 16th. New Street Research set a $230.00 price objective on shares of Semtech in a research report on Thursday, August 20th. Finally, Morgan Stanley set a $205.00 price objective on shares of Semtech in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.11.

Semtech Stock Up 4.0%

SMTC stock traded up $5.43 during trading on Friday, hitting $141.63. 2,707,807 shares of the company’s stock traded hands, compared to its average volume of 2,883,047. The firm has a market capitalization of $13.22 billion, a P/E ratio of 93.80 and a beta of 2.41. Semtech has a 1 year low of $60.28 and a 1 year high of $201.99. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $157.28 and a two-hundred day simple moving average of $140.55.

Semtech (NASDAQ:SMTC) last posted its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%. The company had revenue of $341.87 million during the quarter, compared to analyst estimates of $328.67 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. Semtech’s revenue was up 32.7% on a year-over-year basis. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Sell-side analysts anticipate that Semtech will post 2.80 EPS for the current year.

Insider Transactions at Semtech

In other news, EVP Jason Elliot Green sold 2,766 shares of Semtech stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $190.35, for a total value of $526,508.10. Following the transaction, the executive vice president owned 7,367 shares of the company’s stock, valued at $1,402,308.45. The trade was a 27.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of Semtech stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $138.71, for a total transaction of $277,420.00. Following the completion of the transaction, the chief executive officer directly owned 60,799 shares in the company, valued at approximately $8,433,429.29. The trade was a 3.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 13,737 shares of company stock worth $2,267,877. 0.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Leonteq Securities AG boosted its holdings in shares of Semtech by 11.2% in the 1st quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 118 shares during the last quarter. Corient Private Wealth LP boosted its holdings in Semtech by 4.0% during the second quarter. Corient Private Wealth LP now owns 3,147 shares of the semiconductor company’s stock worth $515,000 after buying an additional 122 shares in the last quarter. ABS Investment Management LLC purchased a new stake in Semtech during the second quarter worth $178,035,000. FNY Investment Advisers LLC boosted its holdings in Semtech by 900.0% during the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after buying an additional 180 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Semtech by 6.6% during the third quarter. Quadrant Capital Group LLC now owns 2,974 shares of the semiconductor company’s stock worth $514,000 after buying an additional 183 shares in the last quarter.

About Semtech

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and infrastructure technology company that develops analog and mixed-signal products for communications, industrial, data center, consumer, and automotive applications. Its portfolio is designed to improve connectivity, power efficiency, signal integrity, and protection in electronic systems.

The company’s products include high-speed connectivity solutions for data centers and communications networks, power management and protection devices, signal integrity components, and wireless and radio-frequency technologies.