Castleark Management LLC Has $8.29 Million Stock Holdings in Semtech Corporation $SMTC

Castleark Management LLC boosted its position in Semtech Corporation (NASDAQ:SMTC) by 4.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,758 shares of the semiconductor company’s stock after buying an additional 4,800 shares during the period. Castleark Management LLC owned approximately 0.12% of Semtech worth $8,286,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. ABS Direct Equity Fund LLC purchased a new position in Semtech during the first quarter worth about $85,000. Caxton Associates LLP boosted its stake in Semtech by 91.3% in the first quarter. Caxton Associates LLP now owns 13,233 shares of the semiconductor company’s stock valued at $1,017,000 after acquiring an additional 6,315 shares during the last quarter. Sei Investments Co. boosted its stake in Semtech by 65.9% in the first quarter. Sei Investments Co. now owns 357,875 shares of the semiconductor company’s stock valued at $27,517,000 after acquiring an additional 142,197 shares during the last quarter. Icon Advisers Inc. Co. bought a new position in shares of Semtech during the 1st quarter valued at approximately $1,538,000. Finally, Militia Capital Management LLC bought a new position in shares of Semtech during the 1st quarter valued at approximately $2,307,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group lifted their price target on shares of Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Susquehanna increased their price objective on Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, May 27th. Oppenheimer set a $200.00 target price on Semtech in a research report on Wednesday, May 27th. Benchmark boosted their target price on Semtech from $120.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, B. Riley Financial upped their price target on Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. One investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.07.

Semtech Price Performance

Semtech stock opened at $125.92 on Monday. Semtech Corporation has a one year low of $46.02 and a one year high of $177.35. The business has a fifty day moving average price of $149.03 and a 200-day moving average price of $110.78. 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 firm has a market capitalization of $11.73 billion, a P/E ratio of -322.87 and a beta of 2.31.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results 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. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The company had revenue of $291.02 million during the quarter, compared to analysts’ expectations of $283.53 million. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, equities research analysts forecast that Semtech Corporation will post 1.81 EPS for the current year.

Insider Activity 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 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 owned 8,611 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $133.00, for a total transaction of $266,000.00. Following the completion of the transaction, the chief executive officer directly owned 64,799 shares of the company’s stock, valued at approximately $8,618,267. The trade was a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 in the last quarter. 0.44% of the stock is currently owned by company insiders.

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.