Sei Investments Co. Has $27.52 Million Stock Position in Semtech Corporation $SMTC

Key Points

• Sei Investments increased its Semtech position by 65.9% in the first quarter, owning 357,875 shares valued at approximately $27.5 million. Other major institutional investors, including Vanguard, Ameriprise Financial, and State Street, also raised their holdings.
• Analysts remain broadly bullish, with 13 Buy ratings, one Strong Buy, three Holds, and one Sell; the consensus price target is $189.07. Several firms recently raised their targets to between $188 and $230.
• Semtech shares opened at $121.52, down 3.5%, despite the company beating quarterly earnings and revenue estimates and posting 15.9% year-over-year revenue growth. Insiders have sold 22,234 shares worth about $3.2 million over the past 90 days.

Sei Investments Co. grew its position in Semtech Corporation (NASDAQ:SMTC - Free Report) by 65.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 357,875 shares of the semiconductor company's stock after purchasing an additional 142,197 shares during the period. Sei Investments Co. owned about 0.38% of Semtech worth $27,517,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Semtech by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company's stock worth $873,842,000 after buying an additional 298,987 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Semtech by 10.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company's stock worth $321,040,000 after purchasing an additional 666,456 shares during the last quarter. State Street Corp raised its holdings in shares of Semtech by 1.5% during the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company's stock valued at $182,235,000 after purchasing an additional 60,788 shares in the last quarter. Whale Rock Capital Management LLC lifted its stake in shares of Semtech by 11.3% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company's stock valued at $287,499,000 after purchasing an additional 396,504 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Semtech by 9.8% in the second quarter. Alliancebernstein L.P. now owns 3,318,384 shares of the semiconductor company's stock worth $149,792,000 after purchasing an additional 294,990 shares in the last quarter.

Analysts Set New Price Targets

SMTC has been the topic of several recent research reports. TD Cowen raised their target price on Semtech from $210.00 to $215.00 and gave the company a "buy" rating in a report on Monday, June 22nd. Stifel Nicolaus boosted their target price on Semtech from $157.00 to $188.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Craig Hallum increased their price target on Semtech from $105.00 to $205.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Benchmark lifted their price target on shares of Semtech from $120.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $200.00 price objective on shares of Semtech in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $189.07.

Semtech Stock Down 3.5%

Shares of SMTC stock opened at $121.52 on Tuesday. Semtech Corporation has a 12 month low of $46.02 and a 12 month high of $177.35. 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 $11.32 billion, a PE ratio of -311.59 and a beta of 2.31. The stock has a 50 day moving average of $148.82 and a 200-day moving average of $111.09.

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, topping the consensus estimate of $0.45 by $0.06. The business had revenue of $291.02 million for the quarter, compared to the consensus estimate of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. Semtech's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, equities analysts predict that Semtech Corporation will post 1.81 EPS for the current year.

Insider Activity at Semtech

In related news, CEO Hong Q. Hou sold 2,000 shares of Semtech stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $133.00, for a total transaction of $266,000.00. Following the sale, the chief executive officer directly owned 64,799 shares of the company's stock, valued at $8,618,267. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 company'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 approximately $1,118,568.90. This trade represents a 20.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 22,234 shares of company stock worth $3,203,091. Insiders own 0.44% of the company's stock.

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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