Sigma Planning Corp acquired a new position in Semtech Corporation (NASDAQ:SMTC – Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,306 shares of the semiconductor company’s stock, valued at approximately $1,125,000.
A number of other hedge funds also recently bought and sold shares of SMTC. Osterweis Capital Management Inc. bought a new stake in Semtech during the second quarter valued at about $9,783,000. Canada Pension Plan Investment Board bought a new stake in shares of Semtech in the 2nd quarter valued at about $39,313,000. Swiss National Bank raised its stake in shares of Semtech by 6.9% during the 1st quarter. Swiss National Bank now owns 183,000 shares of the semiconductor company’s stock worth $14,071,000 after acquiring an additional 11,800 shares in the last quarter. Nicholas Investment Partners LP acquired a new stake in shares of Semtech in the 2nd quarter worth $13,673,000. Finally, Sei Investments Co. grew its stake in Semtech by 65.9% during the 1st quarter. Sei Investments Co. now owns 357,875 shares of the semiconductor company’s stock worth $27,517,000 after buying an additional 142,197 shares during the last quarter.
Insider Buying and Selling at Semtech
In related news, CFO Mark Lin sold 967 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $178.87, for a total value of $172,967.29. Following the transaction, the chief financial officer directly owned 35,999 shares of the company’s stock, valued at approximately $6,439,141.13. This trade represents a 2.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Hou sold 2,000 shares of Semtech stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $138.71, for a total value of $277,420.00. Following the completion of the sale, the chief executive officer owned 60,799 shares in the company, valued at approximately $8,433,429.29. The trade was a 3.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 14,237 shares of company stock valued at $2,337,597. Corporate insiders own 0.44% of the company’s stock.
Semtech Trading Down 4.2%
SMTC stock opened at $140.85 on Friday. Semtech Corporation has a 52-week low of $60.28 and a 52-week 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 firm has a market cap of $13.15 billion, a P/E ratio of 93.28 and a beta of 2.41. The company’s 50-day simple moving average is $157.11 and its 200-day simple moving average is $124.44.
Semtech (NASDAQ:SMTC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $328.67 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. Semtech’s revenue for the quarter was up 32.7% on a year-over-year basis. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, equities analysts forecast that Semtech Corporation will post 2.80 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on SMTC shares. Seaport Research Partners assumed coverage on shares of Semtech in a report on Tuesday, September 22nd. They set a “buy” rating and a $200.00 price objective on the stock. UBS Group boosted their price objective on shares of Semtech from $225.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Morgan Stanley set a $205.00 price objective on Semtech in a report on Friday, October 16th. Wall Street Zen raised Semtech from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Finally, Benchmark reissued a “buy” rating on shares of Semtech in a research report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.11.
View Our Latest Stock Analysis on SMTC
Semtech Company Profile
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.
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