64,399 Shares in Semtech Corporation $SMTC Acquired by Nicholas Investment Partners LP

Key Points

• Nicholas Investment Partners LP opened a new position in Semtech, buying 64,399 shares worth about $4.75 million in the fourth quarter, according to its latest 13F filing.
• Semtech’s stock was trading up 1.9% at $166.71, near its 52-week high of $172.35, as the company continued a strong rally supported by its semiconductor business and AI/data center exposure.
• The company recently reported better-than-expected quarterly results, with EPS of $0.51 versus $0.45 expected and revenue of $291.02 million, while analysts maintained a generally positive view with a consensus target price of $179.73.

Nicholas Investment Partners LP acquired a new position in Semtech Corporation (NASDAQ:SMTC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 64,399 shares of the semiconductor company's stock, valued at approximately $4,746,000. Nicholas Investment Partners LP owned about 0.07% of Semtech as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its holdings in Semtech by 243.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 360 shares during the last quarter. AlphaQuest LLC raised its holdings in Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 173 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Semtech by 65.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company's stock worth $42,000 after acquiring an additional 235 shares during the last quarter. Assetmark Inc. raised its holdings in Semtech by 1,745.5% in the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 576 shares during the last quarter. Finally, IFP Advisors Inc purchased a new position in Semtech in the 4th quarter worth approximately $53,000.

Semtech Trading Up 1.9%

Shares of SMTC stock opened at $166.71 on Friday. Semtech Corporation has a 1 year low of $39.07 and a 1 year high of $172.35. The firm has a fifty day moving average price of $125.55 and a 200-day moving average price of $95.81. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The company has a market cap of $15.53 billion, a price-to-earnings ratio of -427.46 and a beta of 2.32.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.06. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The firm had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, equities analysts predict that Semtech Corporation will post 1.81 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SMTC. Weiss Ratings lowered shares of Semtech from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, March 24th. Northland Securities lowered shares of Semtech from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 26th. Roth Mkm boosted their price objective on shares of Semtech from $102.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Robert W. Baird lifted their target price on shares of Semtech from $110.00 to $225.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Finally, Stifel Nicolaus lifted their target price on shares of Semtech from $157.00 to $188.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $179.73.

Insiders Place Their Bets

In other Semtech news, EVP Jason Elliot Green sold 7,500 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total transaction of $612,975.00. Following the sale, the executive vice president directly owned 8,811 shares of the company's stock, valued at $720,123.03. This trade represents a 45.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hong Q. Hou sold 2,000 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $162.10, for a total value of $324,200.00. Following the sale, the chief executive officer directly owned 69,228 shares in the company, valued at approximately $11,221,858.80. This represents a 2.81% 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. Insiders have sold a total of 25,660 shares of company stock worth $2,268,140 in the last three months. 0.48% of the stock is owned by company insiders.

About Semtech

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.

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