Assenagon Asset Management S.A. Buys 596,373 Shares of Semtech Corporation $SMTC

Assenagon Asset Management S.A. grew its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 323.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 781,003 shares of the semiconductor company’s stock after purchasing an additional 596,373 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Semtech were worth $60,051,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Campbell Newman Asset Management Inc. acquired a new stake in Semtech in the 1st quarter valued at about $1,611,000. SG Americas Securities LLC raised its stake in Semtech by 16.5% in the first quarter. SG Americas Securities LLC now owns 125,582 shares of the semiconductor company’s stock valued at $9,656,000 after buying an additional 17,757 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Semtech by 70.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,988 shares of the semiconductor company’s stock valued at $146,000 after buying an additional 823 shares during the last quarter. Corient Private Wealth LLC bought a new position in shares of Semtech during the 4th quarter worth approximately $221,000. Finally, Alpine Global Management LLC acquired a new position in shares of Semtech during the 4th quarter worth approximately $368,000.

Semtech Stock Performance

Shares of NASDAQ:SMTC opened at $162.27 on Friday. Semtech Corporation has a 12-month low of $42.38 and a 12-month high of $177.35. The company’s 50 day moving average price is $139.30 and its two-hundred day moving average price is $101.57. The firm has a market cap of $15.12 billion, a PE ratio of -416.08 and a beta of 2.32. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86.

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, beating analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities research analysts predict that Semtech Corporation will post 1.81 earnings per share for the current year.

Insider Transactions at Semtech

In other news, Director Martin Burvill sold 2,500 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $88.98, for a total transaction of $222,450.00. Following the sale, the director directly owned 4,409 shares of the company’s stock, valued at approximately $392,312.82. This represents a 36.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Michael Wilson sold 5,500 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $170.00, for a total value of $935,000.00. Following the completion of the transaction, the insider owned 80,876 shares in the company, valued at $13,748,920. The trade was a 6.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 21,474 shares of company stock worth $2,473,296. Corporate insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SMTC shares. Oppenheimer set a $200.00 price target on Semtech in a report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Semtech in a research note on Thursday, June 18th. TD Cowen raised their price objective on shares of Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday. B. Riley Financial boosted their price objective on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Craig Hallum increased their target price on Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a research note 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $189.07.

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.