Tairen Capital Ltd Takes $6 Million Position in Semtech Corporation $SMTC

Tairen Capital Ltd acquired a new position in Semtech Corporation (NASDAQ:SMTC) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 37,100 shares of the semiconductor company’s stock, valued at approximately $6,005,000. Semtech accounts for approximately 0.5% of Tairen Capital Ltd’s portfolio, making the stock its 29th largest holding.

A number of other institutional investors also recently bought and sold shares of SMTC. Andar Capital Management HK Ltd bought a new stake in Semtech during the second quarter valued at about $162,000,000. Vanguard Group Inc. increased its position in Semtech by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock worth $873,842,000 after buying an additional 298,987 shares in the last quarter. BlackRock Inc. bought a new position in shares of Semtech in the second quarter worth about $1,577,947,000. Ameriprise Financial Inc. lifted its position in shares of Semtech by 10.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after buying an additional 666,456 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Semtech by 1.5% during the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after buying an additional 60,788 shares in the last quarter.

Insider Transactions at Semtech

In other Semtech news, COO Asaf Silberstein sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the completion of the transaction, the chief operating officer owned 96,862 shares in the company, valued at $12,378,963.60. The trade was a 8.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,264 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total value of $294,093.60. Following the transaction, the executive vice president directly owned 8,611 shares in the company, valued at approximately $1,118,568.90. This represents a 20.82% 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. In the last ninety days, insiders have sold 21,734 shares of company stock worth $3,133,986. 0.44% of the stock is currently owned by insiders.

Semtech Price Performance

SMTC opened at $124.09 on Monday. The firm has a 50-day simple moving average of $137.87 and a two-hundred day simple moving average of $117.66. Semtech Corporation has a 52 week low of $49.04 and a 52 week high of $177.35. The company has a market capitalization of $11.56 billion, a PE ratio of -318.18 and a beta of 2.35. 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 announced 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 negative net margin of 3.05% and a positive return on equity of 18.31%. The company had revenue of $291.02 million for the quarter, compared to analysts’ expectations of $283.53 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. Semtech’s quarterly revenue was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Analysts forecast that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SMTC. Stifel Nicolaus boosted their price objective on Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Benchmark reaffirmed a “buy” rating on shares of Semtech in a report on Thursday. B. Riley Financial lifted their price target on shares of Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. Finally, Citigroup cut shares of Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.47.

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.