Icon Advisers Inc. Co. Makes New Investment in Semtech Corporation $SMTC

Icon Advisers Inc. Co. bought a new stake in Semtech Corporation (NASDAQ:SMTC) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the semiconductor company’s stock, valued at approximately $1,538,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Royce & Associates LP boosted its stake in Semtech by 144.5% during the 4th quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock valued at $7,930,000 after purchasing an additional 63,603 shares during the period. Argos Wealth Advisors LLC acquired a new stake in shares of Semtech in the fourth quarter valued at approximately $640,000. Geode Capital Management LLC increased its stake in shares of Semtech by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock valued at $154,704,000 after purchasing an additional 6,715 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Semtech by 21.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 155,576 shares of the semiconductor company’s stock valued at $11,709,000 after buying an additional 27,781 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of Semtech by 558.9% during the fourth quarter. Strs Ohio now owns 48,100 shares of the semiconductor company’s stock valued at $3,544,000 after buying an additional 40,800 shares during the last quarter.

Analysts Set New Price Targets

SMTC has been the subject of several analyst reports. Zacks Research upgraded Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Mizuho set a $225.00 target price on Semtech in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Semtech in a research note on Thursday, June 18th. B. Riley Financial boosted their price target on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Northland Securities cut Semtech from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Semtech has a consensus rating of “Moderate Buy” and an average target price of $189.07.

Semtech Trading Down 0.7%

Semtech stock opened at $136.93 on Thursday. Semtech Corporation has a 12-month low of $46.02 and a 12-month high of $177.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The stock has a market capitalization of $12.76 billion, a PE ratio of -351.10 and a beta of 2.31. The firm has a 50 day simple moving average of $149.32 and a 200-day simple moving average of $109.97.

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

Insider Activity at Semtech

In other news, CEO Hong Q. Hou sold 2,000 shares of the business’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $133.00, for a total value of $266,000.00. Following the sale, the chief executive officer owned 64,799 shares of the company’s stock, valued at approximately $8,618,267. The trade was a 2.99% decrease in their position. 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, COO Asaf Silberstein sold 8,500 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total value of $1,086,300.00. Following the completion of the sale, the chief operating officer owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. This trade represents a 8.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,234 shares of company stock worth $3,203,091 in the last quarter. Company insiders own 0.44% of the company’s stock.

About Semtech

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.