Bessemer Group Inc. Has $6.87 Million Stake in Semtech Corporation $SMTC

Key Points

• Bessemer Group Inc. increased its Semtech stake by 41% in the first quarter, ending with 89,286 shares valued at about $6.87 million.
• Semtech reported a strong quarterly beat, posting $0.51 EPS versus the $0.45 estimate and $291.02 million in revenue, up 15.9% year over year. The company also gave Q2 2027 guidance of $0.59 to $0.63 EPS.
• Analysts remain mostly constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $189.07, though some firms recently downgraded the shares. Meanwhile, insiders have been selling stock in recent months.

Bessemer Group Inc. raised its position in Semtech Corporation (NASDAQ:SMTC - Free Report) by 41.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,286 shares of the semiconductor company's stock after buying an additional 25,947 shares during the quarter. Bessemer Group Inc. owned about 0.10% of Semtech worth $6,865,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SMTC. Think Investments LP acquired a new stake in shares of Semtech during the 3rd quarter worth approximately $58,618,000. Ameriprise Financial Inc. raised its position in Semtech by 10.3% during the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company's stock valued at $321,040,000 after purchasing an additional 666,456 shares in the last quarter. Atreides Management LP bought a new stake in Semtech during the second quarter worth $29,880,000. Assenagon Asset Management S.A. lifted its stake in Semtech by 323.0% during the first quarter. Assenagon Asset Management S.A. now owns 781,003 shares of the semiconductor company's stock worth $60,051,000 after purchasing an additional 596,373 shares during the last quarter. Finally, Capital International Investors acquired a new stake in shares of Semtech in the 4th quarter valued at $39,593,000.

Semtech Stock Performance

NASDAQ SMTC opened at $124.96 on Monday. The company has a market cap of $11.64 billion, a price-to-earnings ratio of -320.41 and a beta of 2.31. Semtech Corporation has a twelve month low of $46.02 and a twelve month high of $177.35. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. The business's fifty day moving average is $149.47 and its 200 day moving average is $108.71.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $291.02 million during the quarter, compared to analysts' expectations of $283.53 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The business'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, sell-side analysts expect that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Semtech news, 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 transaction of $294,093.60. Following the sale, the executive vice president directly owned 8,611 shares of the company's stock, valued at $1,118,568.90. The trade was a 20.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total transaction of $145,897.70. Following the sale, the chief financial officer directly owned 34,896 shares in the company, valued at $5,248,707.36. The trade was a 2.70% 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. Insiders have sold a total of 22,734 shares of company stock valued at $3,256,056 over the last three months. Insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Semtech from $155.00 to $175.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 27th. Citigroup lowered Semtech from a "buy" rating to a "market perform" rating in a research note on Tuesday, May 26th. B. Riley Financial lifted their target price on Semtech from $165.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Northland Securities downgraded Semtech from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. Finally, Oppenheimer set a $200.00 target price on shares of Semtech in a report 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 issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $189.07.

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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