Globeflex Capital L P acquired a new stake in Semtech Corporation (NASDAQ:SMTC – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 30,550 shares of the semiconductor company’s stock, valued at approximately $4,945,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Andar Capital Management HK Ltd bought a new stake in shares of Semtech during the second quarter worth $162,000,000. Vanguard Group Inc. raised its holdings in shares of Semtech by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock valued at $873,842,000 after buying an additional 298,987 shares during the last quarter. BlackRock Inc. acquired a new position in Semtech during the 2nd quarter worth about $1,577,947,000. Ameriprise Financial Inc. lifted its position in Semtech by 10.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after buying an additional 666,456 shares in the last quarter. Finally, State Street Corp grew its holdings in Semtech by 1.5% during the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after acquiring an additional 60,788 shares during the last quarter.
Insider Buying and Selling at Semtech
In other Semtech news, CFO Mark Lin sold 970 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total transaction of $145,897.70. Following the transaction, the chief financial officer owned 34,896 shares in the company, valued at approximately $5,248,707.36. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total value of $1,086,300.00. Following the transaction, the chief operating officer owned 96,862 shares of the company’s stock, valued at $12,378,963.60. The trade was a 8.07% 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 21,734 shares of company stock valued at $3,133,986 over the last quarter. 0.44% of the stock is owned by corporate insiders.
Semtech Stock Performance
Semtech (NASDAQ:SMTC – Get Free Report) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. The company had revenue of $291.02 million during the quarter, compared to analysts’ expectations of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, sell-side analysts anticipate that Semtech Corporation will post 1.81 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Oppenheimer set a $200.00 target price on shares of Semtech in a research note on Wednesday, May 27th. Craig Hallum increased their price target on shares of Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Mizuho set a $225.00 price target on shares of Semtech in a report on Wednesday, May 27th. Susquehanna boosted their price objective on shares of Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, May 27th. Finally, Northland Securities downgraded Semtech from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $189.47.
View Our Latest Report on SMTC
Semtech Profile
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.
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