Assenagon Asset Management S.A. Has $60.05 Million Position in Semtech Corporation $SMTC

Key Points

• Assenagon Asset Management boosted its Semtech stake by 323% in Q1, ending with 781,003 shares valued at about $60.05 million.
• Semtech’s stock has attracted mixed analyst reactions: several firms raised price targets sharply, but Citigroup and Northland downgraded the name. Overall, the stock carries a Moderate Buy consensus with an average target price of $189.07.
• The company reported strong Q1 results, beating EPS and revenue estimates, with revenue up 15.9% year over year. Semtech also guided Q2 2027 EPS at 0.590–0.630 and its shares were trading near $162.27, close to the 52-week high.

Assenagon Asset Management S.A. increased its stake in Semtech Corporation (NASDAQ:SMTC - Free Report) by 323.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 781,003 shares of the semiconductor company's stock after purchasing an additional 596,373 shares during the period. Assenagon Asset Management S.A. owned 0.84% of Semtech worth $60,051,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Royce & Associates LP grew its holdings in Semtech by 144.5% during the 4th quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company's stock worth $7,930,000 after acquiring an additional 63,603 shares during the period. Argos Wealth Advisors LLC acquired a new position in shares of Semtech in the 4th quarter valued at $640,000. GW&K Investment Management LLC bought a new position in shares of Semtech in the 3rd quarter worth $27,125,000. Atreides Management LP boosted its position in shares of Semtech by 2.4% in the 3rd quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company's stock worth $48,453,000 after purchasing an additional 16,192 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Semtech by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company's stock worth $154,704,000 after purchasing an additional 6,715 shares during the period.

Insider Buying and Selling

In related news, Director Paul V. Walsh, Jr. sold 500 shares of Semtech stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total value of $69,105.00. Following the sale, the director owned 23,279 shares of the company's stock, valued at approximately $3,217,390.59. This trade represents a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin Burvill sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $88.98, for a total value of $222,450.00. Following the completion of the sale, the director owned 4,409 shares in the company, valued at $392,312.82. The trade was a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 21,474 shares of company stock valued at $2,473,296. Corporate insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SMTC. Citigroup downgraded Semtech from a "buy" rating to a "market perform" rating in a report on Tuesday, May 26th. Robert W. Baird raised their target price on Semtech from $110.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. Oppenheimer set a $200.00 price target on Semtech in a research note on Wednesday, May 27th. Northland Securities downgraded shares of Semtech from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 26th. Finally, Benchmark lifted their price objective on shares of Semtech from $120.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Semtech currently has a consensus rating of "Moderate Buy" and an average target price of $189.07.

Semtech Price Performance

NASDAQ SMTC opened at $162.27 on Friday. The business has a 50 day simple moving average of $139.30 and a 200 day simple moving average of $101.57. Semtech Corporation has a 52-week low of $42.38 and a 52-week high of $177.35. 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 market cap of $15.12 billion, a price-to-earnings ratio of -416.08 and a beta of 2.32.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. The firm had revenue of $291.02 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Analysts anticipate that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

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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