Blue Jean Financial LLC Acquires 18,518 Shares of Semtech Corporation $SMTC

Key Points

• Blue Jean Financial LLC acquired 18,518 Semtech shares worth approximately $3.3 million in the third quarter, making Semtech its 16th-largest holding and 2% of its portfolio. Several other institutional investors also increased their positions.
• Analyst sentiment is broadly positive: Semtech has a “Moderate Buy” consensus rating, with 15 Buy, one Strong Buy, and three Hold ratings. The average price target is $213.11, while several firms recently set targets between $186 and $230.
• Semtech reported quarterly EPS of $0.71, beating estimates by $0.10, while revenue rose 32.7% year over year to $341.87 million. However, insiders sold 13,737 shares worth $2.27 million over the past 90 days.

Blue Jean Financial LLC acquired a new stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,518 shares of the semiconductor company's stock, valued at approximately $3,303,000. Semtech comprises 2.0% of Blue Jean Financial LLC's investment portfolio, making the stock its 16th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc grew its position in Semtech by 30.7% in the third quarter. IFP Advisors Inc now owns 936 shares of the semiconductor company's stock worth $167,000 after acquiring an additional 220 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in Semtech by 21.6% during the third quarter. TD Waterhouse Canada Inc. now owns 4,876 shares of the semiconductor company's stock valued at $911,000 after purchasing an additional 865 shares during the period. Pension & Wealth Management Advisors Inc. purchased a new stake in Semtech during the third quarter valued at approximately $53,000. Assenagon Asset Management S.A. raised its position in Semtech by 56.3% during the third quarter. Assenagon Asset Management S.A. now owns 546,422 shares of the semiconductor company's stock valued at $97,454,000 after purchasing an additional 196,734 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Semtech by 23.3% in the 3rd quarter. GAMMA Investing LLC now owns 6,045 shares of the semiconductor company's stock valued at $1,078,000 after purchasing an additional 1,142 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SMTC. Northland Securities upgraded Semtech from a "market perform" rating to an "outperform" rating and set a $186.00 target price for the company in a report on Friday, October 16th. TD Cowen reissued a "buy" rating and set a $215.00 target price on shares of Semtech in a research report on Friday, October 16th. DA Davidson set a $230.00 price target on Semtech in a report on Friday. Morgan Stanley set a $205.00 price target on Semtech in a research report on Friday. Finally, BMO Capital Markets raised their price target on Semtech from $155.00 to $230.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Semtech currently has an average rating of "Moderate Buy" and a consensus price target of $213.11.

Insider Buying and Selling

In other Semtech news, Director Julie Ruehl sold 1,500 shares of the company's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $145.00, for a total value of $217,500.00. Following the transaction, the director owned 7,140 shares of the company's stock, valued at $1,035,300. This represents a 17.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Hou sold 2,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $138.71, for a total value of $277,420.00. Following the completion of the sale, the chief executive officer owned 60,799 shares in the company, valued at approximately $8,433,429.29. The trade was a 3.18% decrease in their position. 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 13,737 shares of company stock worth $2,267,877 over the last ninety days. Corporate insiders own 0.44% of the company's stock.

Semtech Stock Performance

Semtech stock opened at $136.20 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31. The firm has a market capitalization of $12.71 billion, a P/E ratio of 90.20 and a beta of 2.41. Semtech Corporation has a 1-year low of $60.28 and a 1-year high of $201.99. The company's 50-day moving average is $157.28 and its 200 day moving average is $140.55.

Semtech (NASDAQ:SMTC - Get Free Report) last released its 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. Semtech had a return on equity of 21.74% and a net margin of 13.11%. The firm had revenue of $341.87 million for the quarter, compared to analysts' expectations of $328.67 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company's quarterly revenue was up 32.7% on a year-over-year basis. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Research analysts forecast that Semtech Corporation will post 2.80 EPS for the current year.

About Semtech

Semtech Corporation NASDAQ: SMTC is a global semiconductor and infrastructure technology company that develops analog and mixed-signal products for communications, industrial, data center, consumer, and automotive applications. Its portfolio is designed to improve connectivity, power efficiency, signal integrity, and protection in electronic systems.

The company's products include high-speed connectivity solutions for data centers and communications networks, power management and protection devices, signal integrity components, and wireless and radio-frequency technologies.

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