Semtech Corporation $SMTC Stock Position Decreased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its holdings in Semtech Corporation (NASDAQ:SMTC) by 11.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 98,402 shares of the semiconductor company’s stock after selling 13,021 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.11% of Semtech worth $17,550,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. North Dakota State Investment Board raised its holdings in Semtech by 3.8% during the 3rd quarter. North Dakota State Investment Board now owns 2,838 shares of the semiconductor company’s stock worth $506,000 after buying an additional 105 shares during the period. Corient Private Wealth LP lifted its stake in Semtech by 4.0% in the second quarter. Corient Private Wealth LP now owns 3,147 shares of the semiconductor company’s stock valued at $515,000 after buying an additional 122 shares in the last quarter. REAP Financial Group LLC acquired a new position in shares of Semtech in the third quarter valued at approximately $27,000. SBI Securities Co. Ltd. boosted its holdings in shares of Semtech by 29.6% in the third quarter. SBI Securities Co. Ltd. now owns 679 shares of the semiconductor company’s stock valued at $121,000 after buying an additional 155 shares during the period. Finally, ABS Investment Management LLC acquired a new position in shares of Semtech in the second quarter valued at approximately $178,035,000.

Semtech Stock Performance

Shares of SMTC stock opened at $103.21 on Friday. The company’s fifty day simple moving average is $155.15 and its 200-day simple moving average is $125.55. 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 firm has a market cap of $9.63 billion, a PE ratio of 68.35 and a beta of 2.50. Semtech Corporation has a 12 month low of $60.28 and a 12 month high of $201.99.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.61 by $0.10. The business had revenue of $341.87 million during the quarter, compared to analysts’ expectations of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The firm’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities research analysts expect that Semtech Corporation will post 2.80 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Semtech from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. BMO Capital Markets boosted their price objective on shares of Semtech from $155.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, October 13th. UBS Group upped their target price on shares of Semtech from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. New Street Research set a $230.00 target price on Semtech in a report on Thursday, August 20th. Finally, Robert W. Baird lifted their price target on Semtech from $225.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.11.

Insider Activity

In other news, EVP Jason Elliot Green sold 2,766 shares of the firm’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total value of $526,508.10. Following the completion of the transaction, the executive vice president owned 7,367 shares in the company, valued at $1,402,308.45. This trade represents a 27.30% decrease in their position. 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, CFO Mark Lin sold 967 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $178.87, for a total value of $172,967.29. Following the completion of the transaction, the chief financial officer owned 35,999 shares of the company’s stock, valued at $6,439,141.13. The trade was a 2.62% 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. Over the last ninety days, insiders sold 14,237 shares of company stock worth $2,337,597. 0.44% of the stock is currently owned by company insiders.

Semtech Company Profile

Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems.

The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.

Founded in 1960, Semtech serves customers around the world through its international operations and sales network.