Semtech Corporation $SMTC Shares Bought by Geode Capital Management LLC

Key Points

• Geode Capital Management slightly increased its Semtech stake in the fourth quarter, holding 2.1 million shares valued at about $154.7 million. Several other institutional investors also added to or initiated positions in the semiconductor company.
• Analyst sentiment remains generally positive, with multiple firms raising price targets after Semtech’s latest results. The stock now carries a consensus rating of Moderate Buy and an average target price of $179.73.
• Semtech reported better-than-expected earnings and revenue for the quarter, with EPS of $0.51 versus $0.45 expected and revenue of $291 million. Shares were trading near $163.50, close to their 52-week high of $172.35.

Geode Capital Management LLC raised its holdings in Semtech Corporation (NASDAQ:SMTC - Free Report) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,099,033 shares of the semiconductor company's stock after acquiring an additional 6,715 shares during the quarter. Geode Capital Management LLC owned 2.27% of Semtech worth $154,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Argos Wealth Advisors LLC acquired a new stake in Semtech in the 4th quarter valued at about $640,000. Royce & Associates LP lifted its holdings in Semtech by 144.5% in the 4th quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company's stock valued at $7,930,000 after acquiring an additional 63,603 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in Semtech in the 3rd quarter valued at about $4,624,000. Atreides Management LP lifted its stake in Semtech by 2.4% during the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company's stock valued at $48,453,000 after buying an additional 16,192 shares in the last quarter. Finally, GW&K Investment Management LLC purchased a new stake in Semtech during the third quarter valued at about $27,125,000.

Analysts Set New Price Targets

A number of analysts have commented on the stock. B. Riley Financial upped their price objective on shares of Semtech from $165.00 to $210.00 and gave the company a "buy" rating in a research note 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. Mizuho set a $225.00 price objective on shares of Semtech in a research note on Wednesday, May 27th. Susquehanna upped their price objective on shares of Semtech from $170.00 to $200.00 and gave the company a "positive" rating in a research note on Wednesday, May 27th. Finally, Robert W. Baird upped their price objective on shares of Semtech from $110.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $179.73.

Insider Buying and Selling

In other news, Director Paul V. Walsh, Jr. sold 500 shares of the company's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total value of $69,105.00. Following the transaction, the director owned 23,279 shares in the company, valued at $3,217,390.59. This represents a 2.10% decrease in their position. The sale 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, CEO Hong Q. Hou sold 2,000 shares of the company's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $90.11, for a total value of $180,220.00. Following the completion of the transaction, the chief executive officer owned 73,228 shares in the company, valued at $6,598,575.08. This represents a 2.66% decrease in their position. 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 36,884 shares of company stock worth $3,069,245 over the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

Semtech Price Performance

SMTC stock opened at $163.50 on Thursday. The firm has a market capitalization of $15.23 billion, a PE ratio of -419.23 and a beta of 2.32. Semtech Corporation has a one year low of $37.03 and a one year high of $172.35. 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 firm has a 50-day moving average of $113.76 and a two-hundred day moving average of $91.29.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.06. The company had revenue of $291.00 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, analysts forecast that Semtech Corporation will post 1.6 earnings per share for the current 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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