Kornitzer Capital Management Inc. KS Acquires Shares of 54,115 Semtech Corporation $SMTC

Key Points

• Kornitzer Capital Management disclosed a new first-quarter stake in Semtech, buying 54,115 shares valued at about $4.16 million, or roughly 0.06% of the company.
• Semtech reported solid quarterly results, with EPS of $0.51 beating estimates and revenue of $291.02 million topping expectations; revenue also rose 15.9% year over year.
• Analyst sentiment remains positive, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus and an average target price of $189.07.

Kornitzer Capital Management Inc. KS bought a new stake in Semtech Corporation (NASDAQ:SMTC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 54,115 shares of the semiconductor company's stock, valued at approximately $4,161,000. Kornitzer Capital Management Inc. KS owned about 0.06% of Semtech as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SMTC. Leonteq Securities AG grew its stake in shares of Semtech by 11.2% in the 1st quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company's stock valued at $90,000 after purchasing an additional 118 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings 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 purchasing an additional 136 shares during the period. Stephens Inc. AR grew its position in Semtech by 3.3% in the 4th quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company's stock valued at $325,000 after buying an additional 142 shares during the last quarter. Captrust Financial Advisors increased its stake in Semtech by 0.8% in the 4th quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company's stock valued at $1,422,000 after buying an additional 162 shares during the period. Finally, Cetera Investment Advisers raised its position in Semtech by 1.5% during the 4th quarter. Cetera Investment Advisers now owns 11,737 shares of the semiconductor company's stock worth $865,000 after buying an additional 177 shares during the last quarter.

Insiders Place Their Bets

In related news, Director Paul V. Walsh, Jr. sold 500 shares of the company'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 value of $82,495.00. Following the sale, the director owned 28,100 shares in the company, valued at $4,636,219. This represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,264 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 8,611 shares of the company's stock, valued at $1,118,568.90. The trade was a 20.82% 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. Over the last quarter, insiders have sold 20,734 shares of company stock worth $2,990,056. 0.48% of the stock is owned by insiders.

Semtech Price Performance

Shares of NASDAQ:SMTC traded down $1.37 on Friday, reaching $136.13. 2,701,707 shares of the company were exchanged, compared to its average volume of 4,258,080. The company has a 50-day moving average of $147.85 and a 200-day moving average of $106.50. 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 firm has a market cap of $12.68 billion, a price-to-earnings ratio of -349.05 and a beta of 2.31. Semtech Corporation has a 1-year low of $46.02 and a 1-year high of $177.35.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 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 firm had revenue of $291.02 million during the quarter, compared to analysts' expectations of $283.53 million. During the same quarter last year, the business earned $0.38 earnings per share. The business'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. Equities analysts forecast that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SMTC has been the topic of several analyst reports. Robert W. Baird lifted their target price on shares of Semtech from $110.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Stifel Nicolaus raised their price objective on shares of Semtech from $157.00 to $188.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Mizuho set a $225.00 price objective on Semtech in a report on Wednesday, May 27th. Susquehanna boosted their target price on Semtech from $170.00 to $200.00 and gave the stock a "positive" rating in a research report on Wednesday, May 27th. Finally, Needham & Company LLC increased their target price on Semtech from $105.00 to $200.00 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 issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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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