Engineers Gate Manager LP Grows Position in Semtech Corporation $SMTC

Engineers Gate Manager LP raised its holdings in Semtech Corporation (NASDAQ:SMTC) by 450.5% during the second quarter, HoldingsChannel reports. The firm owned 58,129 shares of the semiconductor company’s stock after buying an additional 47,569 shares during the period. Engineers Gate Manager LP’s holdings in Semtech were worth $9,408,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of SMTC. FNY Investment Advisers LLC raised its stake in shares of Semtech by 900.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after buying an additional 180 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Semtech in the 2nd quarter worth about $32,000. Banque Cantonale Vaudoise purchased a new stake in shares of Semtech in the first quarter valued at about $33,000. IFP Advisors Inc acquired a new stake in Semtech during the 4th quarter valued at $53,000. Finally, Allworth Financial LP purchased a new stake in Semtech during the 2nd quarter worth about $55,000.

Analyst Ratings Changes

Several research firms recently commented on SMTC. Susquehanna upped their target price on Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, May 27th. Weiss Ratings upgraded shares of Semtech from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday. Oppenheimer set a $200.00 price target on Semtech in a report on Wednesday, May 27th. Northland Securities raised Semtech from a “market perform” rating to an “outperform” rating and set a $182.00 price target for the company in a report on Thursday, August 27th. Finally, Robert W. Baird raised their price objective on shares of Semtech from $225.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Semtech currently has an average rating of “Moderate Buy” and a consensus target price of $204.71.

Insider Buying and Selling

In related news, insider John Wilson sold 5,500 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $170.00, for a total value of $935,000.00. Following the transaction, the insider owned 80,876 shares in the company, valued at approximately $13,748,920. This represents a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Asaf Silberstein sold 8,500 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the transaction, the chief operating officer directly owned 96,862 shares in the company, valued at $12,378,963.60. The trade was a 8.07% 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. Over the last 90 days, insiders sold 23,234 shares of company stock worth $3,304,706. Insiders own 0.44% of the company’s stock.

Semtech Stock Performance

Shares of SMTC opened at $159.13 on Friday. Semtech Corporation has a 12-month low of $57.50 and a 12-month high of $177.35. The firm’s 50 day moving average is $133.22 and its 200-day moving average is $123.06. The stock has a market capitalization of $14.85 billion, a P/E ratio of 105.38 and a beta of 2.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. The company had revenue of $341.87 million during the quarter, compared to analyst estimates of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The business’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities research analysts anticipate that Semtech Corporation will post 2.64 EPS for the current fiscal year.

Semtech Profile

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and technology company that designs and supplies analog and mixed-signal products. Its solutions are used to manage, protect, connect and process electronic signals in infrastructure, data centers, industrial systems, automotive applications, consumer devices and communications equipment.

The company’s portfolio includes signal-integrity and connectivity products, power-management and protection devices, wireless and radio-frequency solutions, and specialized semiconductors.