Sierra Summit Advisors LLC Invests $459,000 in Semtech Corporation $SMTC

Sierra Summit Advisors LLC purchased a new stake in Semtech Corporation (NASDAQ:SMTC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,968 shares of the semiconductor company’s stock, valued at approximately $459,000.

Other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in Semtech during the first quarter worth approximately $33,000. IFP Advisors Inc bought a new position in Semtech during the 4th quarter worth $53,000. Huntington National Bank raised its holdings in Semtech by 151.3% in the 3rd quarter. Huntington National Bank now owns 749 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 451 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Semtech by 24.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 247 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new stake in shares of Semtech during the 4th quarter valued at $60,000.

Insider Activity at Semtech

In related news, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $164.99, for a total value of $82,495.00. Following the completion of the transaction, the director owned 28,100 shares of the company’s stock, valued at $4,636,219. This represents a 1.75% decrease in their position. The sale was disclosed in a document filed 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, CEO Hong Q. Hou sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $162.10, for a total transaction of $324,200.00. Following the completion of the sale, the chief executive officer owned 69,228 shares in the company, valued at $11,221,858.80. This represents a 2.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 13,500 shares of company stock valued at $1,866,435. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SMTC has been the topic of several analyst reports. Stifel Nicolaus increased their target price on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Needham & Company LLC boosted their price target on Semtech from $105.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. UBS Group upped their price objective on shares of Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. TD Cowen increased their price objective on shares of Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Semtech in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $189.07.

Semtech Stock Performance

Shares of SMTC opened at $135.27 on Friday. Semtech Corporation has a 52-week low of $42.42 and a 52-week high of $177.35. The business’s fifty day moving average is $144.68 and its 200-day moving average is $104.31. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of -346.85 and a beta of 2.31.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data 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. The business had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.During the same period in the prior year, the company earned $0.38 EPS. Semtech’s revenue for the quarter was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities analysts anticipate that Semtech Corporation will post 1.81 EPS for the current fiscal 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.