Globeflex Capital L P Purchases New Stake in Semtech Corporation $SMTC

Globeflex Capital L P acquired a new position in shares of Semtech Corporation (NASDAQ:SMTC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,550 shares of the semiconductor company’s stock, valued at approximately $4,945,000.

Several other large investors have also recently bought and sold shares of the business. Royce & Associates LP increased its holdings in shares of Semtech by 144.5% in 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 in the last quarter. Argos Wealth Advisors LLC purchased a new stake in Semtech during the fourth quarter worth about $640,000. Geode Capital Management LLC boosted its holdings in Semtech by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock worth $154,704,000 after buying an additional 6,715 shares in the last quarter. Strs Ohio grew its position in Semtech by 558.9% during the fourth quarter. Strs Ohio now owns 48,100 shares of the semiconductor company’s stock worth $3,544,000 after buying an additional 40,800 shares during the period. Finally, Swiss National Bank grew its position in Semtech by 6.9% during the first quarter. Swiss National Bank now owns 183,000 shares of the semiconductor company’s stock worth $14,071,000 after buying an additional 11,800 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Semtech in a report on Thursday, June 18th. Northland Securities downgraded Semtech from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. B. Riley Financial lifted 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 boosted their target price on Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.47.

Semtech Price Performance

NASDAQ SMTC opened at $124.09 on Monday. Semtech Corporation has a twelve month low of $49.04 and a twelve month high of $177.35. The stock has a market cap of $11.56 billion, a PE ratio of -318.18 and a beta of 2.35. The firm has a 50-day simple moving average of $137.87 and a 200 day simple moving average of $117.66. 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 (NASDAQ:SMTC) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $291.02 million during 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%.Semtech’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, research analysts forecast that Semtech Corporation will post 1.81 EPS for the current year.

Insider Activity

In other news, insider John Michael Wilson sold 5,500 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $170.00, for a total value of $935,000.00. Following the sale, the insider owned 80,876 shares of the company’s stock, valued at approximately $13,748,920. This represents a 6.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lin sold 970 shares of the 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 sale, the chief financial officer owned 34,896 shares of the company’s stock, valued at $5,248,707.36. This trade represents 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 ninety days, insiders sold 21,734 shares of company stock valued at $3,133,986. 0.44% of the stock is owned by company insiders.

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.