Louisiana State Employees Retirement System bought a new position in shares of Semtech Corporation (NASDAQ:SMTC – Free Report) during the 1st quarter, HoldingsChannel.com reports. The fund bought 41,000 shares of the semiconductor company’s stock, valued at approximately $3,152,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SMTC. Evergreen Capital Management LLC grew its holdings in shares of Semtech by 2.3% in the fourth quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company’s stock valued at $438,000 after acquiring an additional 136 shares in the last quarter. Stephens Inc. AR lifted its stake in Semtech by 3.3% in the fourth quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company’s stock valued at $325,000 after purchasing an additional 142 shares during the last quarter. Journey Strategic Wealth LLC grew its holdings in Semtech by 3.2% during the third quarter. Journey Strategic Wealth LLC now owns 5,074 shares of the semiconductor company’s stock valued at $363,000 after purchasing an additional 159 shares during the period. Captrust Financial Advisors increased its position in Semtech by 0.8% in the fourth quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company’s stock worth $1,422,000 after buying an additional 162 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in Semtech by 1.5% in the fourth quarter. Cetera Investment Advisers now owns 11,737 shares of the semiconductor company’s stock worth $865,000 after buying an additional 177 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on SMTC. Mizuho set a $225.00 price target on Semtech in a research report on Wednesday, May 27th. Citigroup lowered Semtech from a “buy” rating to a “market perform” rating in a report on Tuesday, May 26th. Oppenheimer set a $200.00 price objective on Semtech in a research note on Wednesday, May 27th. Benchmark upped their price objective on shares of Semtech from $120.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, UBS Group increased their target price on shares of Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.07.
Insider Activity at Semtech
In other Semtech news, Director Paul V. Walsh, Jr. sold 500 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total transaction of $82,495.00. Following the sale, the director owned 28,100 shares in the company, valued at $4,636,219. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 7,500 shares of Semtech stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total value of $612,975.00. Following the sale, the executive vice president directly owned 8,811 shares of the company’s stock, valued at approximately $720,123.03. This trade represents a 45.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,974 shares of company stock worth $2,555,791 in the last three months. 0.48% of the stock is owned by insiders.
Semtech Stock Down 7.7%
SMTC stock opened at $149.75 on Friday. The company’s 50 day moving average is $140.43 and its 200 day moving average is $101.91. The stock has a market cap of $13.95 billion, a price-to-earnings ratio of -383.97 and a beta of 2.32. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. Semtech Corporation has a 1-year low of $42.38 and a 1-year high of $177.35.
Semtech (NASDAQ:SMTC – Get Free Report) last announced its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. The business had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. Semtech’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Sell-side analysts predict that Semtech Corporation will post 1.81 EPS for the current fiscal year.
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.
Read More
- Five stocks we like better than Semtech
- 3 Stocks That Could Benefit as the Robotaxi Race Heats Up
- 3 Waste Stocks Turning AI Investments into Growth
- 3 Overlooked Tech ETFs That Are Quietly Killing It This Year
- 3 ETFs Pairing Market-Beating Returns With High Dividend Yields
Want to see what other hedge funds are holding SMTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Semtech Corporation (NASDAQ:SMTC – Free Report).
Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.
