Principal Financial Group Inc. Acquires 37,572 Shares of Semtech Corporation $SMTC

Key Points

• Principal Financial Group increased its Semtech stake by 9.1% in the first quarter, buying 37,572 shares and bringing its total holding to 452,553 shares valued at about $34.8 million.
• Insiders have been selling shares, including CFO Mark Lin and insider John Michael Wilson, with total insider sales over the last 90 days reaching 22,734 shares worth about $3.26 million.
• Semtech beat earnings expectations in its latest quarter, reporting $0.51 EPS on revenue of $291.02 million, while analysts currently maintain a consensus Moderate Buy rating with a $189.07 price target.

Principal Financial Group Inc. raised its holdings in Semtech Corporation (NASDAQ:SMTC - Free Report) by 9.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 452,553 shares of the semiconductor company's stock after buying an additional 37,572 shares during the period. Principal Financial Group Inc. owned 0.49% of Semtech worth $34,797,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Leonteq Securities AG grew its holdings 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 acquiring an additional 118 shares in the last quarter. Evergreen Capital Management LLC boosted its position in Semtech by 2.3% during 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 boosted its position in Semtech by 3.3% during 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 grew its stake in Semtech by 0.8% in 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 increased its position in shares of 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 purchasing an additional 177 shares during the last quarter.

Insider Activity

In other news, CFO Mark Lin sold 970 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total value of $145,897.70. Following the completion of the sale, the chief financial officer owned 34,896 shares of the company's stock, valued at approximately $5,248,707.36. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Michael Wilson sold 5,500 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $170.00, for a total transaction of $935,000.00. Following the completion of the transaction, the insider owned 80,876 shares in the company, valued at $13,748,920. This trade represents a 6.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 22,734 shares of company stock worth $3,256,056. Corporate insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

SMTC has been the topic of several analyst reports. Mizuho set a $225.00 price target on shares of Semtech in a research report on Wednesday, May 27th. B. Riley Financial lifted their price objective on shares of Semtech from $165.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Northland Securities lowered shares of Semtech from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. Craig Hallum upped their target price on shares of Semtech from $105.00 to $205.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Finally, Oppenheimer set a $200.00 target price on shares of Semtech in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Semtech presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.07.

Semtech Trading Down 2.1%

Shares of NASDAQ:SMTC opened at $124.96 on Friday. Semtech Corporation has a 12-month low of $46.02 and a 12-month high of $177.35. The business has a 50 day moving average of $149.47 and a 200-day moving average of $108.48. 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 stock has a market cap of $11.64 billion, a PE ratio of -320.41 and a beta of 2.31.

Semtech (NASDAQ:SMTC - Get Free Report) last announced 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 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%.The firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, equities research analysts forecast that Semtech Corporation will post 1.81 earnings per share for the current year.

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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