NorthCrest Asset Manangement LLC Buys 6,906 Shares of Semtech Corporation $SMTC

NorthCrest Asset Manangement LLC boosted its stake in Semtech Corporation (NASDAQ:SMTC) by 69.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,790 shares of the semiconductor company’s stock after purchasing an additional 6,906 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Semtech were worth $1,191,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its holdings in shares of Semtech by 10.3% during the second 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 in the last quarter. 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 valued at $182,235,000 after acquiring an additional 60,788 shares in the last quarter. Alliancebernstein L.P. grew its position in Semtech by 9.8% during the 2nd quarter. Alliancebernstein L.P. now owns 3,318,384 shares of the semiconductor company’s stock worth $149,792,000 after acquiring an additional 294,990 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in Semtech by 4.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,894,536 shares of the semiconductor company’s stock worth $130,659,000 after purchasing an additional 115,921 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in Semtech by 107.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,747,260 shares of the semiconductor company’s stock worth $124,011,000 after purchasing an additional 1,424,909 shares in the last quarter.

Wall Street Analyst Weigh In

SMTC has been the topic of a number of recent research reports. Cowen initiated coverage on Semtech in a research note on Tuesday, September 30th. They set a “buy” rating on the stock. Piper Sandler reiterated an “overweight” rating and issued a $95.00 price objective (up previously from $70.00) on shares of Semtech in a report on Thursday, December 11th. UBS Group reissued a “buy” rating on shares of Semtech in a report on Tuesday, November 25th. TD Cowen started coverage on shares of Semtech in a research report on Wednesday, October 1st. They issued a “buy” rating and a $75.00 price target for the company. Finally, Morgan Stanley set a $67.00 price target on shares of Semtech in a research note on Tuesday, November 25th. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.21.

Semtech Stock Performance

NASDAQ:SMTC opened at $76.99 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.71 and a current ratio of 2.43. Semtech Corporation has a fifty-two week low of $24.05 and a fifty-two week high of $81.39. The company has a 50 day simple moving average of $73.56 and a two-hundred day simple moving average of $64.48. The company has a market capitalization of $7.12 billion, a PE ratio of 248.35 and a beta of 2.01.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, November 24th. The semiconductor company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Semtech had a net margin of 2.77% and a return on equity of 17.00%. The company had revenue of $266.97 million for the quarter, compared to analyst estimates of $266.36 million. During the same period in the prior year, the firm posted $0.26 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. Research analysts anticipate that Semtech Corporation will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Semtech

In related news, CFO Mark Lin sold 1,333 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $76.20, for a total transaction of $101,574.60. Following the sale, the chief financial officer owned 18,477 shares in the company, valued at $1,407,947.40. This represents a 6.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul V. Walsh, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $71.61, for a total value of $35,805.00. Following the sale, the director directly owned 25,779 shares of the company’s stock, valued at $1,846,034.19. This represents a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 11,467 shares of company stock valued at $861,983. 0.48% of the stock is owned by corporate 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.