Castleark Management LLC Purchases 47,318 Shares of Semtech Corporation $SMTC

Key Points

• Castleark Management LLC boosted its Semtech stake by 85% in Q4, buying 47,318 additional shares and bringing its total holdings to 102,958 shares worth about $7.59 million.
• Semtech’s latest quarterly results beat expectations, with EPS of $0.51 versus the $0.45 consensus and revenue of $291.02 million, up 15.9% year over year.
• Analyst sentiment remains broadly positive despite some mixed calls: the stock has a Moderate Buy consensus and an average price target of $179.73, while insiders have sold shares in recent months.

Castleark Management LLC increased its position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 85.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,958 shares of the semiconductor company's stock after acquiring an additional 47,318 shares during the quarter. Castleark Management LLC owned about 0.11% of Semtech worth $7,587,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Hantz Financial Services Inc. raised its stake in shares of Semtech by 243.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 360 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Semtech by 42.5% during the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company's stock valued at $41,000 after acquiring an additional 173 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Semtech by 65.5% during the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company's stock valued at $42,000 after acquiring an additional 235 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Semtech by 1,745.5% during the third quarter. Assetmark Inc. now owns 609 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 576 shares in the last quarter. Finally, IFP Advisors Inc acquired a new position in shares of Semtech during the fourth quarter valued at about $53,000.

Semtech Stock Up 1.9%

SMTC opened at $166.71 on Friday. Semtech Corporation has a fifty-two week low of $39.07 and a fifty-two week high of $172.35. 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 company has a fifty day moving average of $125.55 and a two-hundred day moving average of $95.81. The stock has a market capitalization of $15.53 billion, a price-to-earnings ratio of -427.46 and a beta of 2.32.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly 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 company had revenue of $291.02 million during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, research analysts expect that Semtech Corporation will post 1.81 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Martin Burvill sold 2,500 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $392,312.82. The trade was a 36.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul V. Walsh, Jr. sold 500 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total transaction of $69,105.00. Following the completion of the sale, the director directly owned 23,279 shares of the company's stock, valued at approximately $3,217,390.59. The trade was a 2.10% 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 have sold 25,660 shares of company stock worth $2,268,140 in the last 90 days. 0.48% of the stock is owned by insiders.

Analysts Set New Price Targets

SMTC has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of Semtech from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, March 24th. Mizuho set a $225.00 price objective on shares of Semtech in a report on Wednesday, May 27th. Roth Mkm upped their price objective on shares of Semtech from $102.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Morgan Stanley upped their price objective on shares of Semtech from $155.00 to $175.00 and gave the company an "equal weight" rating in a report on Wednesday, May 27th. Finally, TD Cowen restated a "buy" rating on shares of Semtech in a report on Tuesday, February 24th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $179.73.

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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