Militia Capital Management LLC Purchases New Shares in Semtech Corporation $SMTC

Key Points

• Militia Capital Management opened a new position in Semtech during the first quarter, buying 30,000 shares worth about $2.3 million.
• Several other institutions also adjusted their holdings, while analysts remain generally bullish: Semtech has a Moderate Buy consensus and an average price target of $189.07.
• Despite insider selling from executives including EVP Jason Elliot Green and CFO Mark Lin, Semtech reported better-than-expected quarterly results with EPS of $0.51 and revenue of $291.02 million.

Militia Capital Management LLC purchased a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,000 shares of the semiconductor company's stock, valued at approximately $2,307,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in Semtech by 12,214.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company's stock valued at $89,000 after buying an additional 2,565 shares during the last quarter. Empowered Funds LLC increased its position in shares of Semtech by 11.5% during the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company's stock worth $323,000 after acquiring an additional 968 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Semtech by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company's stock worth $14,166,000 after acquiring an additional 22,629 shares during the last quarter. Strs Ohio acquired a new position in shares of Semtech in the first quarter worth about $65,000. Finally, Cetera Investment Advisers acquired a new position in shares of Semtech in the second quarter worth about $226,000.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SMTC. Oppenheimer set a $200.00 price objective on Semtech in a research note on Wednesday, May 27th. Mizuho set a $225.00 target price on Semtech in a research report on Wednesday, May 27th. Stifel Nicolaus increased their target price on Semtech from $157.00 to $188.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Needham & Company LLC reissued a "buy" rating and set a $200.00 price target on shares of Semtech in a research report on Monday, July 13th. Finally, Craig Hallum lifted their price target on shares of Semtech from $105.00 to $205.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Semtech currently has an average rating of "Moderate Buy" and a consensus price target of $189.07.

Insider Activity

In other Semtech news, EVP Jason Elliot Green sold 2,264 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total transaction of $294,093.60. Following the completion of the sale, the executive vice president owned 8,611 shares in the company, valued at $1,118,568.90. The trade was a 20.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total transaction of $145,897.70. Following the sale, the chief financial officer directly owned 34,896 shares in the company, valued at $5,248,707.36. This trade represents a 2.70% 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. Insiders sold a total of 22,234 shares of company stock valued at $3,203,091 over the last three months. 0.44% of the stock is currently owned by company insiders.

Semtech Stock Down 0.7%

Shares of Semtech stock opened at $136.93 on Thursday. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. The firm has a market cap of $12.76 billion, a P/E ratio of -351.10 and a beta of 2.31. Semtech Corporation has a fifty-two week low of $46.02 and a fifty-two week high of $177.35. The business has a 50-day moving average price of $149.32 and a 200 day moving average price of $109.97.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 positive return on equity of 18.31% and a negative net margin of 3.05%.Semtech's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, sell-side analysts forecast that Semtech Corporation will post 1.81 earnings per share for the current fiscal 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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