Candriam S.C.A. Takes $7.47 Million Position in Semtech Corporation $SMTC

Key Points

• Candriam S.C.A. opened a new position in Semtech during the first quarter, buying 97,140 shares valued at about $7.47 million, or roughly 0.10% of the company.
• Semtech’s latest earnings beat expectations, with EPS of $0.51 versus the $0.45 estimate and revenue of $291.02 million, up 15.9% year over year.
• Analysts remain generally positive on the stock: Semtech carries a Moderate Buy consensus with an average price target of $189.07, though there is some disagreement among firms.

Candriam S.C.A. purchased a new position in Semtech Corporation (NASDAQ:SMTC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 97,140 shares of the semiconductor company's stock, valued at approximately $7,469,000. Candriam S.C.A. owned approximately 0.10% of Semtech at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SMTC. Banque Cantonale Vaudoise bought a new stake in shares of Semtech in the 1st quarter valued at about $33,000. IFP Advisors Inc purchased a new stake in Semtech during the fourth quarter valued at approximately $53,000. Smartleaf Asset Management LLC boosted its stake in Semtech by 24.1% in the second quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company's stock valued at $57,000 after acquiring an additional 247 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Semtech in the fourth quarter worth $60,000. Finally, NewEdge Advisors LLC increased its position in shares of Semtech by 1,215.4% during the third quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 790 shares in the last quarter.

Semtech Stock Performance

Shares of NASDAQ SMTC opened at $136.13 on Monday. The company has a 50 day simple moving average of $147.85 and a two-hundred day simple moving average of $106.72. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of -349.05 and a beta of 2.31. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. Semtech Corporation has a 12 month low of $46.02 and a 12 month high of $177.35.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.06. The firm 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 business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, analysts predict that Semtech Corporation will post 1.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Craig Hallum boosted their target price on Semtech from $105.00 to $205.00 and gave the stock a "buy" rating 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 report on Tuesday, May 26th. TD Cowen lifted their target price on shares of Semtech from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Morgan Stanley upped their price target on shares of Semtech from $155.00 to $175.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 27th. Finally, UBS Group lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $189.07.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 970 shares of Semtech stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total transaction of $145,897.70. Following the completion of the transaction, the chief financial officer owned 34,896 shares in the company, valued at approximately $5,248,707.36. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,264 shares of the company's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total value of $294,093.60. Following the completion of the sale, the executive vice president owned 8,611 shares in the company, valued at $1,118,568.90. The trade was a 20.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,734 shares of company stock worth $2,990,056 in the last three months. Company insiders own 0.48% of the company's stock.

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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