Granahan Investment Management LLC Sells 47,585 Shares of Semtech Corporation $SMTC

Granahan Investment Management LLC lessened its position in Semtech Corporation (NASDAQ:SMTC) by 11.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 370,642 shares of the semiconductor company’s stock after selling 47,585 shares during the period. Semtech makes up about 1.4% of Granahan Investment Management LLC’s holdings, making the stock its 20th largest position. Granahan Investment Management LLC owned 0.40% of Semtech worth $28,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SMTC. Banque Cantonale Vaudoise bought a new stake in Semtech during the 1st quarter valued at $33,000. IFP Advisors Inc bought a new position in shares of Semtech in the fourth quarter valued at $53,000. Smartleaf Asset Management LLC lifted its stake in shares of Semtech by 24.1% in the second quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 247 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Semtech in the fourth quarter valued at $60,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Semtech by 1,215.4% during the third quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 790 shares during the last quarter.

Insider Activity

In other news, CEO Hong Q. Hou sold 2,000 shares of Semtech stock in a transaction on Friday, July 10th. The stock was sold at an average price of $133.00, for a total transaction of $266,000.00. Following the sale, the chief executive officer directly owned 64,799 shares in the company, valued at $8,618,267. The trade was a 2.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the stock in a transaction dated Wednesday, July 1st. The shares were 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 of the company’s stock, valued at approximately $5,248,707.36. The trade was a 2.70% 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. Over the last quarter, insiders sold 22,234 shares of company stock worth $3,203,091. 0.44% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on SMTC. Roth Capital increased their price objective on Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. B. Riley Financial upped their price target on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Zacks Research raised Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Finally, Morgan Stanley raised their price objective on Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. One 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 given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $189.07.

Semtech Price Performance

Semtech stock opened at $125.92 on Friday. Semtech Corporation has a 52 week low of $46.02 and a 52 week high of $177.35. The company’s 50 day moving average price is $149.03 and its two-hundred day moving average price is $110.52. The stock has a market cap of $11.73 billion, a P/E ratio of -322.87 and a beta of 2.31. 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 earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (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 analyst estimates of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.Semtech’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, equities analysts predict that Semtech Corporation will post 1.81 earnings per share for the current year.

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.