Semtech Corporation $SMTC Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Semtech stake by 24.8% in the first quarter, purchasing 20,408 additional shares and bringing its holdings to 102,818 shares worth approximately $7.9 million.
• Semtech insiders sold 22,234 shares valued at about $3.2 million over the past 90 days, including sales by the CEO and COO under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a generally positive outlook, with Semtech carrying a “Moderate Buy” consensus rating and an average price target of $189.07. The company recently exceeded quarterly earnings and revenue estimates, reporting $0.51 EPS and $291.02 million in revenue.

California State Teachers Retirement System raised its position in Semtech Corporation (NASDAQ:SMTC - Free Report) by 24.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,818 shares of the semiconductor company's stock after purchasing an additional 20,408 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Semtech worth $7,906,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in Semtech during the first quarter worth about $33,000. IFP Advisors Inc purchased a new stake in shares of Semtech in the 4th quarter valued at approximately $53,000. Smartleaf Asset Management LLC lifted its holdings in shares of Semtech by 24.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company's stock worth $57,000 after acquiring an additional 247 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of Semtech during the 4th quarter worth approximately $60,000. Finally, NewEdge Advisors LLC boosted its position in shares of Semtech by 1,215.4% during the 3rd quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 790 shares during the period.

Insider Activity at Semtech

In other Semtech news, CEO Hong Q. Hou sold 2,000 shares of Semtech stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $133.00, for a total value of $266,000.00. Following the transaction, the chief executive officer directly owned 64,799 shares in the company, valued at approximately $8,618,267. This trade represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 business's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total value 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 approximately $12,378,963.60. The trade was a 8.07% 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. Insiders have sold a total of 22,234 shares of company stock valued at $3,203,091 over the last 90 days. 0.44% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on SMTC. Northland Securities cut Semtech from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. Citigroup downgraded Semtech from a "buy" rating to a "market perform" rating in a report on Tuesday, May 26th. Needham & Company LLC restated a "buy" rating and set a $200.00 target price on shares of Semtech in a report on Monday, July 13th. Morgan Stanley lifted their target price on Semtech from $155.00 to $175.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 27th. Finally, Oppenheimer set a $200.00 price target on shares of Semtech in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Semtech presently has an average rating of "Moderate Buy" and an average price target of $189.07.

Semtech Trading Up 8.5%

NASDAQ SMTC opened at $129.16 on Wednesday. Semtech Corporation has a 52 week low of $46.02 and a 52 week high of $177.35. The firm has a 50 day moving average of $144.70 and a two-hundred day moving average of $112.77. 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 capitalization of $12.03 billion, a PE ratio of -331.18 and a beta of 2.35.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly 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 $291.02 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 quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, research analysts expect that Semtech Corporation will post 1.81 EPS 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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