Semtech Corporation $SMTC Shares Sold by Capital Research Global Investors

Key Points

• Capital Research Global Investors cut its Semtech stake by 4.0% in the fourth quarter, selling 188,956 shares and ending with 4.5 million shares valued at about $331.8 million.
• Semtech posted strong quarterly results, with earnings of $0.51 per share and revenue of $291 million, both ahead of analyst expectations, while revenue rose 15.9% year over year.
• Wall Street sentiment remains mostly positive: several analysts raised price targets, and the stock carries a Moderate Buy consensus with an average target price of $179.73.

Capital Research Global Investors trimmed its position in Semtech Corporation (NASDAQ:SMTC - Free Report) by 4.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,502,720 shares of the semiconductor company's stock after selling 188,956 shares during the period. Capital Research Global Investors owned 4.87% of Semtech worth $331,805,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake 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 purchasing an additional 298,987 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Semtech by 3.7% in the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company's stock worth $526,861,000 after purchasing an additional 261,647 shares in the last quarter. State Street Corp grew its stake in Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company's stock worth $182,235,000 after purchasing an additional 60,788 shares in the last quarter. Alliancebernstein L.P. grew its stake in Semtech by 8.7% in the third quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company's stock worth $257,770,000 after purchasing an additional 289,313 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in Semtech by 23.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company's stock worth $241,528,000 after purchasing an additional 633,113 shares in the last quarter.

Insider Activity at Semtech

In other news, EVP Jason Elliot Green sold 7,500 shares of Semtech stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total transaction of $612,975.00. Following the sale, the executive vice president owned 8,811 shares of the company's stock, valued at approximately $720,123.03. The trade was a 45.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Martin Burvill sold 2,500 shares of Semtech stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $88.98, for a total value of $222,450.00. Following the sale, the director directly owned 4,409 shares in the company, valued at approximately $392,312.82. This trade represents a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,302 shares of company stock valued at $2,518,002. Company insiders own 0.48% of the company's stock.

Semtech Stock Performance

SMTC opened at $151.02 on Monday. The business's 50 day moving average is $117.01 and its 200-day moving average is $92.63. The stock has a market cap of $14.07 billion, a PE ratio of -387.23 and a beta of 2.32. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. Semtech Corporation has a twelve month low of $37.03 and a twelve month high of $172.35.

Semtech (NASDAQ:SMTC - Get Free Report) last released 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 $291.00 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%.The business's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, analysts predict that Semtech Corporation will post 1.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SMTC shares. Morgan Stanley raised their target price on shares of Semtech from $155.00 to $175.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 27th. Needham & Company LLC raised their target price on shares of Semtech from $105.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Oppenheimer set a $200.00 target price on shares of Semtech in a report on Wednesday, May 27th. Craig Hallum raised their target price on shares of Semtech from $105.00 to $205.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Finally, Weiss Ratings cut shares of Semtech from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, March 24th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $179.73.

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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