Heartland Advisors Inc. Has $4.33 Million Holdings in Semtech Corporation $SMTC

Key Points

• Heartland Advisors reduced its Semtech stake by 12.6% in the first quarter, selling 8,079 shares and ending with 56,253 shares valued at about $4.33 million.
• Semtech reported better-than-expected quarterly results, posting EPS of $0.51 versus $0.45 expected and revenue of $291.02 million, up 15.9% year over year.
• Analysts remain broadly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $189.07, even as insiders recently sold shares.

Heartland Advisors Inc. trimmed its position in Semtech Corporation (NASDAQ:SMTC - Free Report) by 12.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 56,253 shares of the semiconductor company's stock after selling 8,079 shares during the period. Heartland Advisors Inc. owned 0.06% of Semtech worth $4,325,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Leonteq Securities AG grew its position in Semtech by 11.2% during the 1st quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company's stock worth $90,000 after acquiring an additional 118 shares during the last quarter. Evergreen Capital Management LLC raised its position in Semtech by 2.3% in the fourth quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company's stock valued at $438,000 after purchasing an additional 136 shares during the last quarter. Stephens Inc. AR raised its position in Semtech by 3.3% in the fourth quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company's stock valued at $325,000 after purchasing an additional 142 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Semtech by 0.8% during the fourth quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company's stock valued at $1,422,000 after purchasing an additional 162 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Semtech by 1.5% during the fourth quarter. Cetera Investment Advisers now owns 11,737 shares of the semiconductor company's stock valued at $865,000 after purchasing an additional 177 shares in the last quarter.

Semtech Price Performance

Shares of SMTC opened at $124.96 on Monday. Semtech Corporation has a 1 year low of $46.02 and a 1 year high of $177.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of -320.41 and a beta of 2.31. The business has a 50-day moving average of $149.47 and a 200-day moving average of $108.71.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.06. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The company had revenue of $291.02 million for the quarter, compared to analyst estimates of $283.53 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm'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. As a group, equities research analysts anticipate that Semtech Corporation will post 1.81 earnings per share for the current year.

Insider Activity

In other news, insider John Michael Wilson sold 5,500 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $170.00, for a total value of $935,000.00. Following the transaction, the insider owned 80,876 shares in the company, valued at approximately $13,748,920. The trade was a 6.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Asaf Silberstein sold 8,500 shares of the company's stock in a transaction 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 completion of the sale, the chief operating officer directly owned 96,862 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 22,734 shares of company stock worth $3,256,056. 0.48% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SMTC shares. Morgan Stanley upped their price objective on Semtech from $155.00 to $175.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 27th. Craig Hallum lifted their target price 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. Oppenheimer set a $200.00 target price on shares of Semtech in a report on Wednesday, May 27th. Mizuho set a $225.00 price target on shares of Semtech in a research report on Wednesday, May 27th. Finally, Robert W. Baird raised their price target on shares of Semtech from $110.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Semtech currently has an average rating of "Moderate Buy" and a consensus price target of $189.07.

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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