Hennion & Walsh Asset Management Inc. Purchases Shares of 4,156 Semtech Corporation $SMTC

Hennion & Walsh Asset Management Inc. acquired a new position in shares of Semtech Corporation (NASDAQ:SMTC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,156 shares of the semiconductor company’s stock, valued at approximately $673,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SMTC. Vanguard Group Inc. raised its position in shares of Semtech by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock valued at $873,842,000 after purchasing an additional 298,987 shares during the period. Ameriprise Financial Inc. boosted its holdings 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 worth $321,040,000 after buying an additional 666,456 shares during the period. State Street Corp boosted its holdings 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 worth $182,235,000 after buying an additional 60,788 shares during the period. Whale Rock Capital Management LLC boosted its holdings in shares of Semtech by 11.3% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock worth $287,499,000 after buying an additional 396,504 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Semtech by 9.8% in the 2nd quarter. Alliancebernstein L.P. now owns 3,318,384 shares of the semiconductor company’s stock valued at $149,792,000 after buying an additional 294,990 shares during the last quarter.

Semtech Trading Up 5.1%

Shares of NASDAQ:SMTC opened at $140.35 on Friday. The business’s 50 day simple moving average is $140.61 and its 200 day simple moving average is $115.63. Semtech Corporation has a 1 year low of $46.02 and a 1 year high of $177.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The company has a market capitalization of $13.07 billion, a P/E ratio of -359.87 and a beta of 2.35.

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, beating the consensus estimate of $0.45 by $0.06. The firm 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%.The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, research analysts anticipate that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SMTC has been the topic of several research analyst reports. Oppenheimer set a $200.00 price target on shares of Semtech in a report on Wednesday, May 27th. Citigroup cut Semtech from a “buy” rating to a “market perform” rating in a report on Tuesday, May 26th. Mizuho set a $225.00 target price on Semtech in a research report on Wednesday, May 27th. Roth Capital increased their target price on Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Stifel Nicolaus lifted their price target on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Semtech has an average rating of “Moderate Buy” and an average target price of $189.07.

Insiders Place Their Bets

In other Semtech news, EVP Jason Elliot Green sold 2,264 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total transaction of $294,093.60. Following the sale, the executive vice president directly owned 8,611 shares in the company, valued at $1,118,568.90. This represents a 20.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the firm’s 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 completion of the transaction, the chief financial officer directly owned 34,896 shares in the company, valued at approximately $5,248,707.36. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,234 shares of company stock valued at $3,203,091 over the last 90 days. 0.44% of the stock is owned by company insiders.

Semtech 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.