Ameritas Advisory Services LLC Invests $3.34 Million in Semtech Corporation $SMTC

Key Points

• Ameritas Advisory Services purchased 20,657 Semtech shares worth approximately $3.34 million in the second quarter, while several other institutional investors also increased or initiated positions.
• Semtech reported quarterly EPS of $0.71, exceeding the $0.61 analyst consensus, while revenue rose 32.7% year over year to $341.87 million. Shares opened at $162.62, up 10%, near their 52-week high.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $204.71, although insiders have sold 19,734 shares worth about $2.81 million over the past 90 days.

Ameritas Advisory Services LLC purchased a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 20,657 shares of the semiconductor company's stock, valued at approximately $3,343,000.

Several other large investors have also modified their holdings of SMTC. Jones Financial Companies Lllp boosted its stake in Semtech by 12,214.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company's stock valued at $89,000 after purchasing an additional 2,565 shares during the period. Empowered Funds LLC increased its position in Semtech by 11.5% in the 1st quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company's stock worth $323,000 after buying an additional 968 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Semtech by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company's stock worth $14,166,000 after buying an additional 22,629 shares during the last quarter. Strs Ohio acquired a new position in shares of Semtech during the first quarter worth approximately $65,000. Finally, Cetera Investment Advisers bought a new stake in shares of Semtech in the second quarter valued at approximately $226,000.

Semtech Stock Up 10.0%

Shares of NASDAQ SMTC opened at $162.62 on Wednesday. The stock has a market cap of $15.18 billion, a PE ratio of 107.70 and a beta of 2.35. The business has a fifty day moving average of $132.41 and a two-hundred day moving average of $121.99. Semtech Corporation has a 52-week low of $57.50 and a 52-week high of $177.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly 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 firm had revenue of $341.87 million for 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 company's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, equities research analysts expect that Semtech Corporation will post 2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Semtech in a research note on Thursday, June 18th. B. Riley Financial upped their target price on shares of Semtech from $165.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Zacks Research cut shares of Semtech from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Mizuho set a $225.00 price target on Semtech in a research note on Wednesday, May 27th. Finally, TD Cowen upped their price target on Semtech from $210.00 to $215.00 and gave the company a "buy" rating in a report on Monday, June 22nd. Fifteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $204.71.

Insider Buying and Selling

In related news, CEO Hong Hou sold 2,000 shares of Semtech stock in a transaction on Friday, July 10th. The stock was sold at an average price of $133.00, for a total transaction of $266,000.00. Following the completion of the sale, the chief executive officer directly owned 64,799 shares of the company's stock, valued at $8,618,267. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Wilson sold 5,500 shares of the business's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $170.00, for a total transaction of $935,000.00. Following the completion of the transaction, the insider directly owned 80,876 shares of the company's stock, valued at $13,748,920. This trade represents a 6.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 19,734 shares of company stock worth $2,809,786. 0.44% of the stock is currently owned by company insiders.

Semtech Company 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.

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