Semtech Corporation $SMTC Shares Purchased by Jennison Associates LLC

Jennison Associates LLC raised its stake in Semtech Corporation (NASDAQ:SMTC) by 15.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 744,380 shares of the semiconductor company’s stock after buying an additional 100,552 shares during the quarter. Jennison Associates LLC owned about 0.80% of Semtech worth $57,235,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Royce & Associates LP boosted its position in shares of Semtech by 144.5% during the 4th quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock worth $7,930,000 after purchasing an additional 63,603 shares during the period. Argos Wealth Advisors LLC acquired a new stake in Semtech in the 4th quarter valued at approximately $640,000. Geode Capital Management LLC raised its position in Semtech by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock valued at $154,704,000 after purchasing an additional 6,715 shares during the period. Strs Ohio raised its position in Semtech by 558.9% in the fourth quarter. Strs Ohio now owns 48,100 shares of the semiconductor company’s stock valued at $3,544,000 after purchasing an additional 40,800 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Semtech by 21.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 155,576 shares of the semiconductor company’s stock worth $11,709,000 after purchasing an additional 27,781 shares in the last quarter.

Insiders Place Their Bets

In related news, EVP Jason Elliot Green sold 2,264 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total value of $294,093.60. Following the transaction, the executive vice president directly owned 8,611 shares of the company’s stock, valued at $1,118,568.90. This trade represents a 20.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of Semtech 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 sale, the chief operating officer owned 96,862 shares in the company, valued at $12,378,963.60. This represents a 8.07% 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. In the last 90 days, insiders have sold 22,734 shares of company stock worth $3,256,056. 0.48% of the stock is currently owned by company insiders.

Semtech Price Performance

Shares of NASDAQ SMTC opened at $124.96 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. Semtech Corporation has a 1 year low of $46.02 and a 1 year high of $177.35. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of -320.41 and a beta of 2.31. The business has a 50-day moving average of $149.47 and a two-hundred day moving average of $108.71.

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

Analyst Ratings Changes

Several research analysts have recently commented on SMTC shares. Benchmark raised their price target on Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Robert W. Baird boosted their price objective on Semtech from $110.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. B. Riley Financial increased their target price on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Mizuho set a $225.00 target price on Semtech in a report on Wednesday, May 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.07.

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.