26,420 Shares in Semtech Corporation $SMTC Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in Semtech Corporation (NASDAQ:SMTC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 26,420 shares of the semiconductor company’s stock, valued at approximately $4,276,000.

A number of other hedge funds have also modified their holdings of the business. Jones Financial Companies Lllp raised its holdings in shares of Semtech by 12,214.3% in the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock valued at $89,000 after buying an additional 2,565 shares during the last quarter. Empowered Funds LLC lifted its position in Semtech by 11.5% during the 1st quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock worth $323,000 after acquiring an additional 968 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Semtech by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock valued at $14,166,000 after purchasing an additional 22,629 shares during the last quarter. Strs Ohio acquired a new position in shares of Semtech in the first quarter valued at approximately $65,000. Finally, Cetera Investment Advisers acquired a new position in shares of Semtech in the second quarter valued at approximately $226,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SMTC. Morgan Stanley increased their price target on Semtech from $175.00 to $195.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 26th. Needham & Company LLC restated a “buy” rating and set a $200.00 price objective on shares of Semtech in a research report on Wednesday, August 26th. Roth Capital set a $220.00 target price on shares of Semtech in a research note on Wednesday, August 26th. B. Riley Financial boosted their price target on shares of Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Susquehanna raised their price objective on shares of Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research report on Wednesday, May 27th. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and a consensus target price of $204.71.

Insider Buying and Selling at Semtech

In related news, EVP Jason Elliot Green sold 2,264 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total value of $294,093.60. Following the sale, the executive vice president owned 8,611 shares in the company, valued at $1,118,568.90. This represents a 20.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total value of $1,086,300.00. Following the completion of the transaction, the chief operating officer directly owned 96,862 shares of the company’s stock, valued at $12,378,963.60. The trade was a 8.07% 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. Over the last three months, insiders have sold 19,734 shares of company stock worth $2,809,786. Corporate insiders own 0.44% of the company’s stock.

Semtech Stock Performance

Shares of SMTC opened at $135.40 on Friday. The company has a 50-day simple moving average of $132.59 and a 200-day simple moving average of $120.61. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $12.64 billion, a PE ratio of 89.67 and a beta of 2.35. Semtech Corporation has a 52-week low of $57.46 and a 52-week high of $177.35.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.10. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The firm had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.67 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm’s revenue was up 32.7% on a year-over-year basis. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities research analysts predict that Semtech Corporation will post 2.64 earnings per share for the current fiscal year.

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.