Artemis Wealth Advisors LLC Takes Position in Semtech Corporation $SMTC

Key Points

• Artemis Wealth Advisors acquired 91,825 Semtech shares worth approximately $7.1 million, making SMTC 0.8% of its portfolio and its 14th-largest holding.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $189.07, although ratings range from “Strong Buy” to “Sell.”
• Semtech exceeded quarterly earnings and revenue expectations, reporting $0.51 EPS and $291.02 million in revenue, while insiders sold 21,734 shares worth about $3.1 million over the past 90 days.

Artemis Wealth Advisors LLC bought a new stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 91,825 shares of the semiconductor company's stock, valued at approximately $7,081,000. Semtech makes up 0.8% of Artemis Wealth Advisors LLC's portfolio, making the stock its 14th biggest position. Artemis Wealth Advisors LLC owned approximately 0.10% of Semtech at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SMTC. FNY Investment Advisers LLC boosted its position in Semtech by 900.0% during the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 180 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Semtech during the 2nd quarter valued at about $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of Semtech during the 1st quarter valued at about $33,000. IFP Advisors Inc bought a new stake in shares of Semtech in the 4th quarter valued at approximately $53,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Semtech by 24.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company's stock valued at $57,000 after buying an additional 247 shares in the last quarter.

Insider Activity at Semtech

In other news, CEO Hong Q. Hou sold 2,000 shares of Semtech stock in a transaction that occurred 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 sale, the chief executive officer owned 64,799 shares of the company's stock, valued at approximately $8,618,267. This trade represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,264 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total value of $294,093.60. Following the sale, the executive vice president 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 21,734 shares of company stock worth $3,133,986. Insiders own 0.44% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on SMTC. Northland Securities cut shares of Semtech from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. Stifel Nicolaus increased their price target on shares of Semtech from $157.00 to $188.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Needham & Company LLC restated a "buy" rating and set a $200.00 price target on shares of Semtech in a report on Friday, August 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Semtech in a research note on Thursday, June 18th. Finally, Morgan Stanley upped their price objective on shares of Semtech from $155.00 to $175.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $189.07.

Semtech Stock Performance

Shares of SMTC opened at $135.23 on Wednesday. The company has a market capitalization of $12.60 billion, a PE ratio of -346.74 and a beta of 2.35. Semtech Corporation has a one year low of $46.02 and a one year high of $177.35. 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's fifty day moving average price is $140.08 and its 200 day moving average price is $116.78.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $291.02 million during the quarter, compared to analysts' expectations of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, analysts expect that Semtech Corporation will post 1.81 earnings per share for the current year.

Semtech 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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