Oppenheimer Asset Management Inc. Invests $1.31 Million in Semtech Corporation $SMTC

Key Points

• Oppenheimer Asset Management initiated a Semtech position worth approximately $1.31 million by purchasing 8,122 shares in the second quarter. Several other institutional investors also increased or initiated holdings.
• Semtech exceeded quarterly expectations, reporting $0.51 in EPS versus a $0.45 consensus estimate and revenue of $291.02 million, up 15.9% year over year. The company guided to $0.590–$0.630 in EPS for Q2 fiscal 2027.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $189.07 target price, although some firms downgraded the stock to “market perform.” Shares recently traded at $140.35, while insiders have sold more than $3.2 million of stock over the past 90 days.

Oppenheimer Asset Management Inc. bought a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,122 shares of the semiconductor company's stock, valued at approximately $1,315,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in Semtech by 12,214.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company's stock valued at $89,000 after acquiring an additional 2,565 shares during the period. Empowered Funds LLC increased its stake in shares of Semtech by 11.5% in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 purchasing an additional 22,629 shares during the last quarter. Strs Ohio purchased a new position in shares of Semtech during the first quarter worth $65,000. Finally, Cetera Investment Advisers acquired a new position in Semtech during the second quarter valued at $226,000.

Semtech Stock Performance

NASDAQ SMTC opened at $140.35 on Monday. The stock has a market capitalization of $13.07 billion, a price-to-earnings ratio of -359.87 and a beta of 2.35. Semtech Corporation has a twelve month low of $46.02 and a twelve month high of $177.35. 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 stock has a 50-day moving average of $140.61 and a 200 day moving average of $115.88.

Semtech (NASDAQ:SMTC - Get Free Report) last issued 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. The company had revenue of $291.02 million for the quarter, compared to analyst estimates 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 last year, the company earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Sell-side analysts anticipate that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SMTC shares. Zacks Research raised Semtech from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 29th. Northland Securities cut Semtech from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 26th. UBS Group upped their target price on Semtech from $165.00 to $225.00 and gave the stock 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 report on Tuesday, May 26th. Finally, Morgan Stanley lifted their price target on Semtech from $155.00 to $175.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $189.07.

Insider Buying and Selling

In other Semtech news, EVP Jason Elliot Green sold 2,264 shares of the company'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 transaction, the executive vice president directly owned 8,611 shares in the company, valued at approximately $1,118,568.90. This represents a 20.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the firm'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 completion of the transaction, the chief operating officer directly owned 96,862 shares in the company, valued at $12,378,963.60. This represents a 8.07% 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 have sold 22,234 shares of company stock worth $3,203,091 in the last 90 days. 0.44% of the stock is owned by insiders.

Semtech 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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