18,552 Semtech Corporation $SMTC Shares Bought by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors increased its Semtech stake by 84.9% in the third quarter, adding 18,552 shares to hold 40,396 shares valued at about $7.2 million.
• Semtech reported quarterly earnings of $0.71 per share, topping the $0.61 consensus, while revenue rose 32.7% year over year to $341.9 million.
• Analysts maintain a “Moderate Buy” consensus rating and an average price target of $213.11; company insiders sold 14,237 shares worth about $2.34 million during the quarter.

Summit Creek Advisors LLC grew its position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 84.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,396 shares of the semiconductor company's stock after buying an additional 18,552 shares during the quarter. Semtech makes up about 2.9% of Summit Creek Advisors LLC's investment portfolio, making the stock its 4th largest holding. Summit Creek Advisors LLC's holdings in Semtech were worth $7,205,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SMTC. North Dakota State Investment Board increased its holdings in Semtech by 3.8% in the third quarter. North Dakota State Investment Board now owns 2,838 shares of the semiconductor company's stock worth $506,000 after buying an additional 105 shares during the last quarter. Corient Private Wealth LP raised its position in Semtech by 4.0% during the second quarter. Corient Private Wealth LP now owns 3,147 shares of the semiconductor company's stock valued at $515,000 after acquiring an additional 122 shares in the last quarter. REAP Financial Group LLC acquired a new stake in Semtech in the third quarter valued at approximately $27,000. SBI Securities Co. Ltd. lifted its stake in Semtech by 29.6% in the third quarter. SBI Securities Co. Ltd. now owns 679 shares of the semiconductor company's stock valued at $121,000 after acquiring an additional 155 shares during the last quarter. Finally, ABS Investment Management LLC acquired a new stake in Semtech in the second quarter valued at approximately $178,035,000.

Semtech Stock Up 12.7%

SMTC opened at $103.21 on Friday. The business has a 50 day moving average price of $155.15 and a 200 day moving average price of $125.55. Semtech Corporation has a twelve month low of $60.28 and a twelve month high of $201.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70. The firm has a market cap of $9.63 billion, a P/E ratio of 68.35 and a beta of 2.50.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%. The company had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.67 million. During the same quarter last year, the company posted $0.41 earnings per share. The company's revenue for the quarter was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Research analysts forecast that Semtech Corporation will post 2.80 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on SMTC. New Street Research set a $230.00 target price on shares of Semtech in a research report on Thursday, August 20th. TD Cowen restated a "buy" rating and set a $215.00 price target on shares of Semtech in a report on Friday, October 16th. Wall Street Zen raised shares of Semtech from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 29th. UBS Group lifted their price objective on shares of Semtech from $225.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, August 26th. Finally, Benchmark reiterated a "buy" rating on shares of Semtech in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.11.

Insider Buying and Selling at Semtech

In related news, Director Rodolpho Cardenuto sold 5,321 shares of the firm's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $165.00, for a total value of $877,965.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jason Elliot Green sold 2,766 shares of Semtech stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total transaction of $526,508.10. Following the completion of the transaction, the executive vice president owned 7,367 shares in the company, valued at $1,402,308.45. This trade represents a 27.30% 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. Insiders sold 14,237 shares of company stock worth $2,337,597 in the last quarter. 0.44% of the stock is owned by corporate insiders.

Semtech Company 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.

Founded in 1960, Semtech serves customers around the world through its international operations and sales network.

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