Diker Management LLC bought a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,000 shares of the semiconductor company's stock, valued at approximately $737,000. Semtech comprises about 0.6% of Diker Management LLC's holdings, making the stock its 25th biggest position.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Evergreen Capital Management LLC grew its stake in shares of Semtech by 2.3% during the fourth quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company's stock worth $438,000 after buying an additional 136 shares during the last quarter. Stephens Inc. AR lifted its holdings in shares of Semtech by 3.3% during the fourth quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company's stock worth $325,000 after purchasing an additional 142 shares during the period. Journey Strategic Wealth LLC lifted its holdings in shares of Semtech by 3.2% during the third quarter. Journey Strategic Wealth LLC now owns 5,074 shares of the semiconductor company's stock worth $363,000 after purchasing an additional 159 shares during the period. Archer Investment Corp lifted its holdings in shares of Semtech by 7.3% during the fourth quarter. Archer Investment Corp now owns 2,683 shares of the semiconductor company's stock worth $198,000 after purchasing an additional 182 shares during the period. Finally, Jones Financial Companies Lllp lifted 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 worth $42,000 after purchasing an additional 235 shares during the period.
Insider Activity
In other news, CEO Hong Q. Hou sold 2,000 shares of the company's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $90.11, for a total transaction of $180,220.00. Following the transaction, the chief executive officer owned 73,228 shares in the company, valued at approximately $6,598,575.08. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin Burvill sold 2,500 shares of the company's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $88.98, for a total transaction of $222,450.00. Following the transaction, the director owned 4,409 shares in the company, valued at $392,312.82. This represents a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 25,160 shares of company stock valued at $2,227,705. Corporate insiders own 0.48% of the company's stock.
Wall Street Analysts Forecast Growth
SMTC has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Semtech from $157.00 to $188.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Roth Mkm lifted their price target on shares of Semtech from $102.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Craig Hallum lifted their price target on shares of Semtech from $105.00 to $205.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Weiss Ratings lowered shares of Semtech from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, March 24th. Finally, Benchmark lifted their price target on shares of Semtech from $120.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $179.73.
Check Out Our Latest Research Report on Semtech
Semtech Price Performance
SMTC stock opened at $161.59 on Wednesday. The firm has a market cap of $15.05 billion, a price-to-earnings ratio of -414.33 and a beta of 2.32. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. Semtech Corporation has a 12-month low of $39.97 and a 12-month high of $177.35. The company's fifty day simple moving average is $128.96 and its 200 day simple moving average is $97.34.
Semtech (NASDAQ:SMTC - Get Free Report) last released its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $291.02 million for the quarter, compared to analyst estimates of $283.53 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. Semtech's revenue for the quarter 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, analysts expect that Semtech Corporation will post 1.81 earnings per share for the current year.
About Semtech
(
Free Report)
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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