Fred Alger Management LLC Acquires 92,396 Shares of Semtech Corporation $SMTC

Fred Alger Management LLC raised its stake in Semtech Corporation (NASDAQ:SMTC) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 859,855 shares of the semiconductor company’s stock after purchasing an additional 92,396 shares during the period. Fred Alger Management LLC’s holdings in Semtech were worth $63,363,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SMTC. &PARTNERS grew its position in Semtech by 7.8% in the fourth quarter. &PARTNERS now owns 15,478 shares of the semiconductor company’s stock valued at $1,141,000 after acquiring an additional 1,126 shares during the period. Diker Management LLC acquired a new stake in shares of Semtech in the fourth quarter valued at approximately $737,000. Mangrove Partners IM LLC bought a new stake in shares of Semtech during the fourth quarter worth $274,000. Graham Capital Management L.P. raised its stake in shares of Semtech by 19.8% during the fourth quarter. Graham Capital Management L.P. now owns 7,096 shares of the semiconductor company’s stock worth $523,000 after buying an additional 1,171 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Semtech by 11.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,515 shares of the semiconductor company’s stock valued at $406,000 after acquiring an additional 546 shares during the last quarter.

Analyst Upgrades and Downgrades

SMTC has been the topic of a number of analyst reports. Mizuho set a $225.00 price target on shares of Semtech in a research report on Wednesday, May 27th. Benchmark increased their target price on Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Citigroup cut Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. Morgan Stanley raised their target price on shares of Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Finally, Craig Hallum lifted their target price on Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $179.73.

Semtech Stock Down 7.3%

Shares of SMTC opened at $161.59 on Wednesday. The firm has a market cap of $15.05 billion, a P/E ratio of -414.33 and a beta of 2.32. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. Semtech Corporation has a 52 week low of $39.97 and a 52 week high of $177.35. The firm’s 50-day simple moving average is $128.96 and its 200 day simple moving average is $97.34.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The business had revenue of $291.02 million during the quarter, compared to analysts’ expectations of $283.53 million. During the same period last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, analysts forecast that Semtech Corporation will post 1.81 earnings per share for the current year.

Insider Buying and Selling

In other Semtech news, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $138.21, for a total transaction of $69,105.00. Following the sale, the director directly owned 23,279 shares in the company, valued at $3,217,390.59. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 974 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $78.42, for a total transaction of $76,381.08. Following the transaction, the chief financial officer owned 33,343 shares of the company’s stock, valued at approximately $2,614,758.06. This represents a 2.84% 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. Insiders sold 25,160 shares of company stock valued at $2,227,705 in the last quarter. Corporate insiders own 0.48% of the company’s stock.

Semtech Company 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.