Gold prices tick higher on fresh US tariff threats, Fed rate cut hopes
Semtech Corporation (NASDAQ:SMTC), a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms, has announced significant corporate governance changes and expansion of its stock incentive plan following its Annual Meeting of Stockholders held on June 5, 2025. The company, currently valued at $3.55 billion, has seen its stock price recover to $41.39, though still down about 42% over the past six months. InvestingPro analysis shows eight analysts have recently revised their earnings upward for the upcoming period, suggesting positive momentum ahead.
On June 3, 2025, Semtech’s Board of Directors approved the amendment and restatement of the company’s bylaws. The updated bylaws, effective immediately, reflect current Delaware law and provide revised guidelines for stockholder proposals and director nominations. These changes also introduce provisions for corporate operation during emergencies as defined by Delaware General Corporation Law.
Additionally, stockholders approved an amendment to Semtech’s 2017 Long-Term Equity Incentive Plan, increasing the number of shares available for award grants by 2.1 million. This amendment, recommended by the Board, aims to further incentivize performance and align the interests of employees and directors with those of the shareholders.
During the Annual Meeting, all nine director nominees were elected to serve until the next annual meeting in 2026. Stockholders ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for fiscal year 2026. They also approved, on an advisory basis, the compensation of the company’s named executive officers.
The meeting saw a strong presence with 92.7% of the total shares issued and outstanding represented in person or by proxy, ensuring a quorum for conducting the meeting’s business. The detailed voting results for each proposal were disclosed in the 8-K filing with the Securities and Exchange Commission.
This information is based on a press release statement from Semtech Corporation and the recent 8-K filing.
In other recent news, Semtech Corp . reported second-quarter revenue of $251.1 million and earnings per share (EPS) of $0.38, slightly surpassing consensus estimates. The company projects third-quarter sales of $256 million and an EPS of $0.40, continuing to outpace market expectations. Benchmark analyst Cody Acree maintained a Buy rating with a price target of $68, noting strong financial disclosures and promising outlook. Piper Sandler reiterated an Overweight rating with a $55 target, highlighting growth in the data center sector and potential gains from Laser Proximity Optical technology. Stifel analysts raised their price target to $45, retaining a Buy rating, citing Semtech’s infrastructure momentum and advancements in next-generation products. Susquehanna maintained a Positive rating with a $60 target, emphasizing growth in Semtech’s product areas and engagement with NVIDIA (NASDAQ:NVDA). Needham also upheld a Buy rating with a $54 target, acknowledging strong first-quarter results and continued demand for data center infrastructure and LoRa-enabled solutions. These developments reflect a positive trend in Semtech’s market position and future prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.