Cooper Creek Partners Management LLC Sells 446,781 Shares of Semtech Corporation $SMTC

Key Points

• Cooper Creek Partners Management sharply reduced its Semtech stake in the first quarter, selling 446,781 shares and cutting its position by 72.7% to 167,452 shares worth about $12.9 million.
• Several other institutional investors also adjusted their positions, with firms like Caxton Associates and Sei Investments increasing holdings while others initiated new stakes in the semiconductor company.
• Semtech has seen mixed analyst sentiment: some firms boosted price targets significantly, but others downgraded the stock; overall, analysts rate it Moderate Buy with an average target price of $189.07.

Cooper Creek Partners Management LLC cut its position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 72.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,452 shares of the semiconductor company's stock after selling 446,781 shares during the period. Cooper Creek Partners Management LLC owned 0.18% of Semtech worth $12,875,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caxton Associates LLP grew its holdings in Semtech by 91.3% during the first quarter. Caxton Associates LLP now owns 13,233 shares of the semiconductor company's stock worth $1,017,000 after purchasing an additional 6,315 shares during the period. Sei Investments Co. raised its stake in Semtech by 65.9% in the first quarter. Sei Investments Co. now owns 357,875 shares of the semiconductor company's stock valued at $27,517,000 after buying an additional 142,197 shares during the period. Icon Advisers Inc. Co. bought a new stake in Semtech in the first quarter valued at approximately $1,538,000. Militia Capital Management LLC acquired a new stake in shares of Semtech in the first quarter valued at approximately $2,307,000. Finally, First Trust Advisors LP lifted its position in shares of Semtech by 8.4% in the first quarter. First Trust Advisors LP now owns 116,061 shares of the semiconductor company's stock valued at $8,924,000 after buying an additional 8,986 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SMTC. Weiss Ratings reissued a "sell (d-)" rating on shares of Semtech in a report on Thursday, June 18th. Citigroup cut Semtech from a "buy" rating to a "market perform" rating in a research note on Tuesday, May 26th. Benchmark raised their price target on Semtech from $120.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Craig Hallum lifted their price objective on shares of Semtech from $105.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Finally, Northland Securities downgraded shares of Semtech from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $189.07.

Insider Transactions at Semtech

In other Semtech news, COO Asaf Silberstein sold 8,500 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the transaction, the chief operating officer owned 96,862 shares in the company, valued at $12,378,963.60. This represents a 8.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul V. Walsh, Jr. sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total transaction of $82,495.00. Following the transaction, the director directly owned 28,100 shares in the company, valued at $4,636,219. This represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 22,234 shares of company stock worth $3,203,091. Company insiders own 0.44% of the company's stock.

Semtech Stock Down 9.2%

SMTC opened at $125.92 on Friday. Semtech Corporation has a fifty-two week low of $46.02 and a fifty-two week high of $177.35. 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 market capitalization of $11.73 billion, a P/E ratio of -322.87 and a beta of 2.31. The stock has a fifty day moving average of $149.03 and a 200-day moving average of $110.52.

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