Oppenheimer has upgraded Semtech Corp (SMTC) to Outperform from Perform as of September 29, 2025. This change reflects a more optimistic view on the company's prospects. Semtech, headquartered in Camarillo, California, specializes in analog and mixed signal semiconductor products, serving high-end consumer, enterprise computing, communications, and industrial equipment markets.
As of now, Semtech's shares are priced at $62.65, with a market capitalization of $5.8 billion. The company has a trailing twelve months (TTM) price-to-earnings (P/E) ratio of 243.00 and an earnings per share (EPS) of $0.28.
This upgrade comes amid a series of recent earnings surprises, including Q2 2026, where EPS matched estimates at $0.41, and Q4 2025, which saw a notable 23.2% positive surprise. Analyst sentiment has been generally favorable, with the consensus rating at Buy, supported by 5 Strong Buy, 14 Buy, and 3 Hold ratings.
Such decisions reflect a growing confidence in Semtech's strategic direction and operational fundamentals. However, it is important to note that analyst ratings can evolve as new information emerges, and they should be considered alongside a comprehensive analysis of company fundamentals and market conditions.