Andar Capital Management HK Ltd bought a new position in Semtech Corporation (NASDAQ:SMTC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 162,000 shares of the semiconductor company's stock, valued at approximately $26,220,000. Semtech makes up approximately 11.8% of Andar Capital Management HK Ltd's investment portfolio, making the stock its 4th largest holding. Andar Capital Management HK Ltd owned about 0.17% of Semtech as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its holdings in Semtech by 12,214.3% in the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company's stock valued at $89,000 after acquiring an additional 2,565 shares during the period. Empowered Funds LLC increased its position in Semtech by 11.5% during the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company's stock valued at $323,000 after acquiring an additional 968 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Semtech by 5.8% in the 1st 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 purchasing an additional 22,629 shares during the period. Strs Ohio bought a new stake in shares of Semtech during the first quarter worth $65,000. Finally, Cetera Investment Advisers bought a new position in Semtech in the 2nd quarter worth about $226,000.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SMTC. UBS Group upped their price objective on shares of Semtech from $165.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Morgan Stanley upped their price objective on Semtech from $155.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Semtech in a research note on Thursday, June 18th. B. Riley Financial increased their target price on shares of Semtech from $165.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Finally, Craig Hallum raised their target price on shares of Semtech from $105.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $189.07.
Read Our Latest Report on Semtech
Insider Buying and Selling at Semtech
In other Semtech news, EVP Jason Elliot Green sold 2,264 shares of the company's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total transaction of $294,093.60. Following the completion of the transaction, the executive vice president directly owned 8,611 shares in the company, valued at approximately $1,118,568.90. This represents a 20.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $164.99, for a total transaction of $82,495.00. Following the transaction, the director directly owned 28,100 shares in the company, valued at approximately $4,636,219. The trade was a 1.75% 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. Over the last 90 days, insiders sold 22,234 shares of company stock worth $3,203,091. 0.44% of the stock is currently owned by company insiders.
Semtech Stock Performance
Shares of SMTC opened at $140.35 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. The stock has a 50-day moving average of $140.61 and a two-hundred day moving average of $115.88. The stock has a market cap of $13.07 billion, a P/E ratio of -359.87 and a beta of 2.35. Semtech Corporation has a one year low of $46.02 and a one year high of $177.35.
Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The firm had revenue of $291.02 million during the quarter, compared to analysts' expectations of $283.53 million. During the same period last year, the business posted $0.38 earnings per share. 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, research analysts predict that Semtech Corporation will post 1.81 EPS for the current year.
Semtech Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding SMTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Semtech Corporation (NASDAQ:SMTC - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Semtech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Semtech wasn't on the list.
While Semtech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
