Oppenheimer Asset Management Inc. Invests $1.31 Million in Semtech Corporation $SMTC

Oppenheimer Asset Management Inc. bought a new stake in Semtech Corporation (NASDAQ:SMTC) in the second quarter, Holdings Channel.com reports. The firm bought 8,122 shares of the semiconductor company’s stock, valued at approximately $1,315,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SMTC. FNY Investment Advisers LLC grew its stake in Semtech by 900.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 180 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Semtech in the 1st quarter worth approximately $33,000. IFP Advisors Inc acquired a new position in shares of Semtech during the 4th quarter worth approximately $53,000. Smartleaf Asset Management LLC boosted its holdings in shares of Semtech by 24.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 247 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Semtech by 1,215.4% in the third quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 790 shares in the last quarter.

Semtech Stock Performance

Shares of Semtech stock opened at $140.35 on Monday. The stock has a 50 day moving average of $140.61 and a 200 day moving average of $115.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of -359.87 and a beta of 2.35. Semtech Corporation has a fifty-two week low of $46.02 and a fifty-two week high of $177.35.

Semtech (NASDAQ:SMTC) last posted its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $283.53 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, research analysts predict that Semtech Corporation will post 1.81 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. B. Riley Financial increased their price target on Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Oppenheimer set a $200.00 price objective on Semtech in a research note on Wednesday, May 27th. Craig Hallum raised their target price on Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Robert W. Baird lifted their price target on Semtech from $110.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Roth Capital boosted their price target on shares of Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $189.07.

Insider Activity

In related news, 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 sale, the executive vice president directly owned 8,611 shares in the company, valued at approximately $1,118,568.90. The trade was a 20.82% decrease in their position. The sale was disclosed in a filing 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, Director Paul V. Walsh, Jr. sold 500 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $164.99, for a total transaction of $82,495.00. Following the completion of the transaction, the director directly owned 28,100 shares in the company, valued at $4,636,219. The trade was a 1.75% decrease in their position. 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 ninety days, insiders sold 22,234 shares of company stock worth $3,203,091. 0.44% of the stock is currently 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.