E20 Capital Ltd bought a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 200,167 shares of the semiconductor company's stock, valued at approximately $32,397,000. Semtech makes up about 2.6% of E20 Capital Ltd's investment portfolio, making the stock its 11th biggest position. E20 Capital Ltd owned 0.21% of Semtech at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Andar Capital Management HK Ltd purchased a new stake in shares of Semtech during the second quarter worth approximately $162,000,000. Vanguard Group Inc. grew its holdings in Semtech by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company's stock worth $873,842,000 after acquiring an additional 298,987 shares in the last quarter. BlackRock Inc. acquired a new position in Semtech during the 2nd quarter worth approximately $1,577,947,000. Ameriprise Financial Inc. increased its position in shares of Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company's stock valued at $321,040,000 after purchasing an additional 666,456 shares during the last quarter. Finally, State Street Corp increased its position in shares of Semtech by 1.5% in the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company's stock valued at $182,235,000 after purchasing an additional 60,788 shares during the last quarter.
Analyst Ratings Changes
Several research firms have recently issued reports on SMTC. Robert W. Baird lifted their price objective on shares of Semtech from $110.00 to $225.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. B. Riley Financial raised their price target on Semtech from $165.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Roth Capital lifted their price target on Semtech from $102.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Susquehanna upped their price objective on Semtech from $170.00 to $200.00 and gave the stock a "positive" rating in a research report on Wednesday, May 27th. Finally, Mizuho set a $225.00 price objective on Semtech in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Semtech has an average rating of "Moderate Buy" and a consensus target price of $189.47.
Get Our Latest Analysis on SMTC
Insider Buying and Selling at Semtech
In other news, CFO Mark Lin sold 970 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total value of $145,897.70. Following the completion of the sale, the chief financial officer directly owned 34,896 shares of the company's stock, valued at approximately $5,248,707.36. The trade was a 2.70% decrease in their position. The transaction 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, EVP Jason Elliot Green sold 2,264 shares of the company's stock in a transaction dated Tuesday, July 7th. The shares were 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 directly owned 8,611 shares of the company's stock, valued at approximately $1,118,568.90. This trade represents a 20.82% 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. In the last three months, insiders have sold 21,734 shares of company stock valued at $3,133,986. 0.44% of the stock is owned by insiders.
Semtech Stock Performance
Shares of Semtech stock opened at $124.09 on Monday. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $137.87 and a 200-day simple moving average of $117.66. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of -318.18 and a beta of 2.35. Semtech Corporation has a 12-month low of $49.04 and a 12-month 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, topping 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 firm had revenue of $291.02 million for the quarter, compared to analyst estimates of $283.53 million. During the same period last year, the business earned $0.38 EPS. Semtech's revenue for the quarter was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, equities analysts forecast that Semtech Corporation will post 1.81 EPS for the current fiscal year.
Semtech Company Profile
(
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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