Great Lakes Advisors LLC Makes New $16.62 Million Investment in Semtech Corporation $SMTC

Key Points

• Great Lakes Advisors acquired 102,682 Semtech shares worth approximately $16.62 million, representing about 0.11% of the semiconductor company. Several other institutional investors also increased their positions.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $189.07; recent targets range as high as $225.
• Semtech exceeded quarterly earnings and revenue expectations, reporting $0.51 EPS and $291.02 million in revenue, with revenue up 15.9% year over year. However, insiders sold 21,734 shares worth $3.13 million over the past 90 days.

Great Lakes Advisors LLC bought a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 102,682 shares of the semiconductor company's stock, valued at approximately $16,619,000. Great Lakes Advisors LLC owned approximately 0.11% of Semtech as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royce & Associates LP increased its position in shares of Semtech by 144.5% in the 4th quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company's stock worth $7,930,000 after purchasing an additional 63,603 shares during the last quarter. Argos Wealth Advisors LLC bought a new position in shares of Semtech during the fourth quarter worth about $640,000. Geode Capital Management LLC lifted its position in shares of Semtech by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company's stock worth $154,704,000 after purchasing an additional 6,715 shares during the last quarter. Strs Ohio grew its stake in Semtech by 558.9% in the fourth quarter. Strs Ohio now owns 48,100 shares of the semiconductor company's stock worth $3,544,000 after purchasing an additional 40,800 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Semtech by 6.9% in the first quarter. Swiss National Bank now owns 183,000 shares of the semiconductor company's stock valued at $14,071,000 after buying an additional 11,800 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on SMTC shares. UBS Group upped their price objective on Semtech from $165.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Citigroup lowered Semtech from a "buy" rating to a "market perform" rating in a research report on Tuesday, May 26th. Zacks Research upgraded Semtech from a "hold" rating to a "strong-buy" rating in a report on Monday, June 29th. Oppenheimer set a $200.00 price target on Semtech in a research report on Wednesday, May 27th. Finally, B. Riley Financial raised their price objective on Semtech from $165.00 to $210.00 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 given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Semtech has a consensus rating of "Moderate Buy" and a consensus price target of $189.07.

Insider Buying and Selling

In other news, CEO Hong Q. Hou sold 2,000 shares of the firm's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $133.00, for a total transaction of $266,000.00. Following the completion of the sale, the chief executive officer directly owned 64,799 shares of the company's stock, valued at $8,618,267. This trade represents a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the company's stock in a transaction dated 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 sale, the chief operating officer directly owned 96,862 shares of the company's stock, valued at $12,378,963.60. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,734 shares of company stock worth $3,133,986 in the last ninety days. Insiders own 0.44% of the company's stock.

Semtech Price Performance

SMTC opened at $135.23 on Wednesday. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of -346.74 and a beta of 2.35. Semtech Corporation has a fifty-two week low of $46.02 and a fifty-two week high of $177.35. The company's 50-day moving average price is $140.08 and its 200 day moving average price is $116.78. 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 (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.06. The company had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.Semtech's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, sell-side analysts expect that Semtech Corporation will post 1.81 earnings per share for the current year.

About Semtech

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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