Maxi Investments CY Ltd Takes $1.47 Million Position in Semtech Corporation $SMTC

Key Points

• Maxi Investments CY Ltd bought 9,100 Semtech shares worth approximately $1.47 million during the second quarter, while several other institutional investors also increased their positions.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $189.47; multiple firms recently raised their targets to between $188 and $230.
• Semtech exceeded quarterly earnings and revenue expectations, reporting $0.51 in adjusted EPS and $291.02 million in revenue, up 15.9% year over year, although insiders sold 21,734 shares worth about $3.13 million over the past 90 days.

Maxi Investments CY Ltd bought a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 9,100 shares of the semiconductor company's stock, valued at approximately $1,473,000.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SMTC. Stifel Nicolaus raised their target price on Semtech from $157.00 to $188.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. UBS Group boosted their price target on Semtech from $165.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. New Street Research set a $230.00 price objective on Semtech in a research report on Thursday. Robert W. Baird upped their price objective on Semtech from $110.00 to $225.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Finally, Susquehanna raised their price objective on Semtech from $170.00 to $200.00 and gave the company a "positive" rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Semtech currently has an average rating of "Moderate Buy" and a consensus target price of $189.47.

Insider Activity at Semtech

In other Semtech news, CFO Mark Lin sold 970 shares of the 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 transaction, the chief financial officer directly owned 34,896 shares in the company, valued at approximately $5,248,707.36. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Semtech stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total value of $1,086,300.00. Following the sale, the chief operating officer directly owned 96,862 shares in the company, valued at $12,378,963.60. The trade was a 8.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,734 shares of company stock worth $3,133,986 over the last 90 days. 0.44% of the stock is currently owned by company insiders.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $124.09 on Monday. Semtech Corporation has a one year low of $49.04 and a one 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 cap of $11.56 billion, a price-to-earnings ratio of -318.18 and a beta of 2.35. The firm has a 50 day simple moving average of $137.87 and a 200 day simple moving average of $117.66.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.06. The firm had revenue of $291.02 million for the quarter, compared to analysts' expectations of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The company's revenue was up 15.9% on a year-over-year basis. During the same quarter 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. Research analysts predict that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

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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