Edgestream Partners L.P. Decreases Position in Semtech Corporation $SMTC

Edgestream Partners L.P. lowered its stake in Semtech Corporation (NASDAQ:SMTC) by 46.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 21,015 shares of the semiconductor company’s stock after selling 18,135 shares during the quarter. Edgestream Partners L.P.’s holdings in Semtech were worth $1,616,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, CFO Mark Lin sold 970 shares of Semtech stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total value 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 trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,264 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total value of $294,093.60. Following the completion of the sale, the executive vice president directly owned 8,611 shares of the company’s stock, valued at approximately $1,118,568.90. This represents a 20.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 22,234 shares of company stock worth $3,203,091. 0.44% of the stock is currently owned by insiders.

Semtech Stock Up 1.1%

SMTC stock opened at $119.08 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. The firm has a 50 day simple moving average of $145.41 and a 200-day simple moving average of $112.39. The company has a market capitalization of $11.09 billion, a P/E ratio of -305.33 and a beta of 2.35. Semtech Corporation has a twelve month low of $46.02 and a twelve month high of $177.35.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The firm had revenue of $291.02 million for the quarter, compared to analysts’ expectations of $283.53 million. During the same period in the prior year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, equities research analysts predict that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SMTC shares. Northland Securities downgraded shares of Semtech from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Roth Capital boosted their price objective on shares of Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Morgan Stanley upped their price objective on shares of Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. UBS Group raised their target price on Semtech from $165.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 target price on shares of Semtech in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Semtech currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.07.

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.