Semtech Corporation $SMTC Stock Position Raised by Ethic Inc.

Ethic Inc. increased its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 191.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,970 shares of the semiconductor company’s stock after purchasing an additional 5,236 shares during the period. Ethic Inc.’s holdings in Semtech were worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SMTC. Andar Capital Management HK Ltd purchased a new position in Semtech in the 2nd quarter valued at $162,000,000. BlackRock Inc. acquired a new position in Semtech in the 2nd quarter valued at $1,577,947,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Semtech by 396.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company’s stock worth $136,298,000 after buying an additional 672,447 shares during the last quarter. Atreides Management LP purchased a new position in Semtech during the 2nd quarter worth $89,214,000. Finally, Bank of New York Mellon Corp purchased a new position in Semtech during the 2nd quarter worth $87,725,000.

Insiders Place Their Bets

In other news, EVP Jason Elliot Green sold 2,766 shares of the company’s stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total value of $526,508.10. Following the sale, the executive vice president directly owned 7,367 shares in the company, valued at $1,402,308.45. This represents a 27.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $138.71, for a total value of $277,420.00. Following the sale, the chief executive officer directly owned 60,799 shares in the company, valued at approximately $8,433,429.29. The trade was a 3.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 14,237 shares of company stock worth $2,337,597. Insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SMTC shares. Zacks Research upgraded shares of Semtech from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 21st. Stifel Nicolaus dropped their price target on shares of Semtech from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, October 16th. Wall Street Zen raised shares of Semtech from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. New Street Research set a $230.00 price target on shares of Semtech in a report on Thursday, August 20th. Finally, Roth Capital set a $220.00 price objective on shares of Semtech in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and an average target price of $212.00.

Semtech Trading Down 4.6%

Shares of SMTC stock opened at $119.44 on Friday. The business’s fifty day moving average price is $154.04 and its 200 day moving average price is $126.31. The firm has a market capitalization of $11.15 billion, a PE ratio of 79.10 and a beta of 2.50. 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 Corporation has a 1-year low of $60.28 and a 1-year high of $201.99.

Semtech (NASDAQ:SMTC) last released its earnings results 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 the consensus estimate of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%. Semtech’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, sell-side analysts forecast that Semtech Corporation will post 2.80 EPS for the current fiscal year.

Semtech Profile

Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems. The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.