Teachers Retirement System of The State of Kentucky Acquires 8,355 Shares of Semtech Corporation $SMTC

Teachers Retirement System of The State of Kentucky increased its holdings in Semtech Corporation (NASDAQ:SMTC) by 38.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,066 shares of the semiconductor company’s stock after purchasing an additional 8,355 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Semtech were worth $2,311,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Semtech by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock valued at $873,842,000 after buying an additional 298,987 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after acquiring an additional 666,456 shares during the last quarter. State Street Corp increased its position in shares of Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock valued at $182,235,000 after acquiring an additional 60,788 shares during the period. Whale Rock Capital Management LLC increased its position in shares of Semtech by 11.3% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock valued at $287,499,000 after acquiring an additional 396,504 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Semtech by 9.8% during the second quarter. Alliancebernstein L.P. now owns 3,318,384 shares of the semiconductor company’s stock valued at $149,792,000 after acquiring an additional 294,990 shares during the last quarter.

Insiders Place Their Bets

In related news, CFO Mark Lin sold 970 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total transaction of $145,897.70. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Michael Wilson sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $170.00, for a total transaction of $935,000.00. Following the completion of the transaction, the insider owned 80,876 shares of the company’s stock, valued at approximately $13,748,920. The trade was a 6.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 22,734 shares of company stock valued at $3,256,056. 0.48% of the stock is owned by company insiders.

Semtech Stock Up 7.0%

SMTC stock opened at $141.36 on Wednesday. The business has a 50 day moving average of $148.96 and a 200 day moving average of $107.58. The firm has a market cap of $13.17 billion, a PE ratio of -362.46 and a beta of 2.31. Semtech Corporation has a twelve month low of $46.02 and a twelve month high of $177.35. 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 released its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. 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 fiscal year.

Analyst Ratings Changes

SMTC has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Citigroup cut Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. B. Riley Financial upped their target price on Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Susquehanna raised their price target on Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a research note on Wednesday, May 27th. Finally, Mizuho set a $225.00 price target on shares of Semtech in a report on Wednesday, May 27th. One investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $189.07.

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.