Semtech Corporation $SMTC Shares Purchased by Katamaran Capital LLP

Key Points

• Katamaran Capital LLP increased its Semtech stake by 148.8% in Q1, buying 24,567 additional shares and bringing its total to 41,082 shares worth about $3.16 million.
• Semtech reported stronger-than-expected quarterly results, with EPS of $0.51 versus $0.45 expected and revenue of $291.02 million, up 15.9% year over year. The company also provided Q2 2027 EPS guidance of 0.590-0.630.
• Analyst sentiment remains positive: several firms raised price targets to as high as $225, and the stock carries a consensus rating of Moderate Buy with an average target price of $189.07. Meanwhile, insiders have been selling shares under pre-arranged trading plans.

Katamaran Capital LLP boosted its holdings in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 148.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,082 shares of the semiconductor company's stock after acquiring an additional 24,567 shares during the quarter. Semtech comprises 2.5% of Katamaran Capital LLP's holdings, making the stock its 13th largest holding. Katamaran Capital LLP's holdings in Semtech were worth $3,159,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Semtech by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company's stock valued at $873,842,000 after buying an additional 298,987 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company's stock valued at $321,040,000 after acquiring an additional 666,456 shares during the period. State Street Corp lifted its holdings in shares of Semtech by 1.5% in the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company's stock worth $182,235,000 after acquiring an additional 60,788 shares during the last quarter. Whale Rock Capital Management LLC boosted its position in shares of Semtech by 11.3% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company's stock worth $287,499,000 after purchasing an additional 396,504 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Semtech by 9.8% during the 2nd 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 during the period.

Semtech Stock Up 7.0%

Semtech stock opened at $141.36 on Wednesday. Semtech Corporation has a twelve month low of $46.02 and a twelve month high of $177.35. The stock's fifty day simple moving average is $148.96 and its 200-day simple moving average is $107.58. 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 market capitalization of $13.17 billion, a P/E ratio of -362.46 and a beta of 2.31.

Semtech (NASDAQ:SMTC - Get Free Report) last released its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.06. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The firm had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. During the same period last year, the business posted $0.38 earnings per share. Semtech's revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, equities analysts expect that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Robert W. Baird boosted their target price on Semtech from $110.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. UBS Group raised their price target on Semtech from $165.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Mizuho set a $225.00 price objective on Semtech in a research note on Wednesday, May 27th. Susquehanna boosted their price objective on Semtech from $170.00 to $200.00 and gave the company a "positive" rating in a report on Wednesday, May 27th. Finally, Stifel Nicolaus increased their target price on Semtech from $157.00 to $188.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $189.07.

Insiders Place Their Bets

In other news, CEO Hong Q. Hou sold 2,000 shares of the business's 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 completion of the transaction, the chief executive officer directly owned 64,799 shares of the company's stock, valued at approximately $8,618,267. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total transaction of $145,897.70. Following the sale, the chief financial officer owned 34,896 shares in the company, valued at $5,248,707.36. The trade was a 2.70% decrease in their ownership of the stock. 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 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.

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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