Kornitzer Capital Management Inc. KS reduced its position in shares of Semtech Corporation (NASDAQ:SMTC – Free Report) by 11.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 98,402 shares of the semiconductor company’s stock after selling 13,021 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Semtech were worth $17,550,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. REAP Financial Group LLC acquired a new stake in Semtech in the third quarter valued at $27,000. FNY Investment Advisers LLC increased its stake in shares of Semtech by 900.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 180 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Semtech during the 2nd quarter worth about $32,000. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Semtech in the 3rd quarter valued at about $53,000. Finally, Allworth Financial LP bought a new stake in shares of Semtech in the 2nd quarter valued at about $55,000.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on SMTC. BMO Capital Markets raised their target price on shares of Semtech from $155.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, October 13th. Benchmark reissued a “buy” rating on shares of Semtech in a research report on Thursday, August 20th. UBS Group boosted their price target on Semtech from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Stifel Nicolaus dropped their price objective on Semtech from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, October 16th. Finally, Northland Securities raised Semtech from a “market perform” rating to an “outperform” rating and set a $186.00 price objective for the company in a research report on Friday, October 16th. One 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $213.11.
Check Out Our Latest Stock Analysis on Semtech
Insider Buying and Selling
In other news, CEO Hong Hou sold 2,000 shares of Semtech stock in a transaction that occurred on Friday, September 4th. The shares were 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 directly 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. The transaction 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, EVP Jason Elliot Green sold 2,766 shares of the business’s 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 completion of the sale, the executive vice president owned 7,367 shares of the company’s stock, valued at approximately $1,402,308.45. This trade represents a 27.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,237 shares of company stock valued at $2,337,597 in the last quarter. Corporate insiders own 0.44% of the company’s stock.
Semtech Price Performance
NASDAQ:SMTC opened at $103.21 on Friday. Semtech Corporation has a 52 week low of $60.28 and a 52 week high of $201.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70. The firm’s 50-day simple moving average is $155.15 and its 200 day simple moving average is $125.55. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 68.35 and a beta of 2.50.
Semtech (NASDAQ:SMTC – Get Free Report) last posted its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The firm had revenue of $341.87 million during the quarter, compared to the consensus estimate of $328.67 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, sell-side analysts predict that Semtech Corporation will post 2.80 earnings per share for the current year.
About Semtech
Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems.
The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.
Founded in 1960, Semtech serves customers around the world through its international operations and sales network.
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