Campbell Newman Asset Management Inc. Invests $1.61 Million in Semtech Corporation $SMTC

Key Points

• Campbell Newman Asset Management opened a new position in Semtech during the first quarter, buying 20,957 shares worth about $1.61 million.
• Several analysts turned more positive on Semtech, with firms like Robert W. Baird and UBS sharply raising price targets; the stock now carries a Moderate Buy consensus and a target price of $179.73.
• Semtech reported stronger-than-expected quarterly results, posting $0.51 EPS on $291.0 million in revenue, while revenue rose 15.9% year over year. The stock was trading near $158.23, close to its 52-week high of $177.35.

Campbell Newman Asset Management Inc. acquired a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,957 shares of the semiconductor company's stock, valued at approximately $1,611,000.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Semtech by 16.5% during the 1st quarter. SG Americas Securities LLC now owns 125,582 shares of the semiconductor company's stock worth $9,656,000 after buying an additional 17,757 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Semtech by 70.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,988 shares of the semiconductor company's stock valued at $146,000 after acquiring an additional 823 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of Semtech in the fourth quarter valued at $221,000. Alpine Global Management LLC purchased a new position in Semtech in the fourth quarter valued at $368,000. Finally, Pacer Advisors Inc. grew its stake in Semtech by 38.8% during the 4th quarter. Pacer Advisors Inc. now owns 16,129 shares of the semiconductor company's stock worth $1,189,000 after purchasing an additional 4,509 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SMTC shares. Robert W. Baird increased their price target on Semtech from $110.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Citigroup cut Semtech from a "buy" rating to a "market perform" rating in a research note on Tuesday, May 26th. UBS Group upped their target price 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. Susquehanna raised their target price on shares of Semtech from $170.00 to $200.00 and gave the company a "positive" rating in a report on Wednesday, May 27th. Finally, Oppenheimer set a $200.00 price target on shares of Semtech in a research note on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $179.73.

Insider Activity

In related news, CFO Mark Lin sold 974 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $78.42, for a total value of $76,381.08. Following the completion of the sale, the chief financial officer directly owned 33,343 shares of the company's stock, valued at $2,614,758.06. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 7,500 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total value of $612,975.00. Following the transaction, the executive vice president directly owned 8,811 shares in the company, valued at approximately $720,123.03. The trade was a 45.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 25,160 shares of company stock worth $2,227,705 over the last three months. Company insiders own 0.48% of the company's stock.

Semtech Price Performance

SMTC stock opened at $158.23 on Monday. The business has a 50 day moving average price of $133.24 and a 200 day moving average price of $99.08. 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 stock has a market cap of $14.74 billion, a price-to-earnings ratio of -405.72 and a beta of 2.32. Semtech Corporation has a fifty-two week low of $40.25 and a fifty-two week high of $177.35.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. The company had revenue of $291.02 million for the quarter, compared to analyst estimates of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The firm's revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities research analysts anticipate that Semtech Corporation will post 1.81 earnings per share for the current fiscal 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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