Semtech Corporation $SMTC Shares Sold by Fisher Asset Management LLC

Key Points

• Fisher Asset Management sharply reduced its Semtech stake, cutting holdings by 70.9% in the fourth quarter and selling 17,068 shares, leaving it with 7,001 shares worth about $516,000.
• Semtech has seen mixed institutional activity, with some investors adding positions while others trimmed or exited, including notable insider selling by a director and the CFO over the past 90 days.
• The stock remains supported by bullish analyst sentiment after a strong earnings report that beat expectations, though one recent downgrade and valuation concerns have added some near-term caution.

Fisher Asset Management LLC cut its holdings in Semtech Corporation (NASDAQ:SMTC - Free Report) by 70.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,001 shares of the semiconductor company's stock after selling 17,068 shares during the quarter. Fisher Asset Management LLC's holdings in Semtech were worth $516,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. New York State Common Retirement Fund raised its holdings in Semtech by 55.7% during the third quarter. New York State Common Retirement Fund now owns 277,661 shares of the semiconductor company's stock worth $19,839,000 after purchasing an additional 99,335 shares in the last quarter. Argos Wealth Advisors LLC purchased a new position in Semtech during the fourth quarter worth about $640,000. Atreides Management LP raised its holdings in Semtech by 2.4% during the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company's stock worth $48,453,000 after purchasing an additional 16,192 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in Semtech during the third quarter worth about $4,624,000. Finally, GW&K Investment Management LLC purchased a new position in Semtech during the third quarter worth about $27,125,000.

More Semtech News

Here are the key news stories impacting Semtech this week:

• Positive Sentiment: Craig-Hallum reiterated a Buy rating on Semtech, adding to a generally constructive analyst backdrop after the company’s recent earnings beat and upbeat outlook.
• Positive Sentiment: Several other analysts recently raised or reiterated bullish price targets, with the latest cluster of targets still sitting well above the current trading range, reflecting confidence in Semtech’s data center connectivity and IoT momentum.
• Positive Sentiment: Recent coverage highlighted Semtech as an AI infrastructure and networking beneficiary, which can support the stock when sentiment around semis and AI hardware is strong.
• Neutral Sentiment: The company’s latest earnings update was solid, with revenue and EPS beating expectations, but that also created a “sell-the-news” setup after a sharp rally into the print.
• Neutral Sentiment: There were also signs of mixed positioning: some institutions added shares while others trimmed large stakes, which can add to volatility without pointing clearly in one direction.
• Negative Sentiment: Northland downgraded Semtech to Market Perform from Outperform, citing valuation concerns and higher near-term risk for semiconductor names, including possible supply-chain disruption and softer AI infrastructure spending. Article title
• Negative Sentiment: Recent insider selling and a new disclosed regulatory risk tied to unregistered securities sales may be weighing on investor confidence and reinforcing the pullback. Article title

Wall Street Analyst Weigh In

SMTC has been the subject of several analyst reports. Robert W. Baird increased their price target on shares of Semtech from $110.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. Needham & Company LLC increased their price target on shares of Semtech from $105.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. UBS Group increased their price target on shares of Semtech from $165.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup cut shares of Semtech from a "buy" rating to a "market perform" rating in a report on Tuesday, May 26th. Finally, B. Riley Financial increased their price target on shares of Semtech from $165.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $179.73.

Insider Buying and Selling

In other news, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $138.21, for a total value of $69,105.00. Following the sale, the director directly owned 23,279 shares in the company, valued at $3,217,390.59. This represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 974 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $78.42, for a total transaction of $76,381.08. Following the completion of the sale, the chief financial officer owned 33,343 shares in the company, valued at $2,614,758.06. This represents a 2.84% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 36,884 shares of company stock valued at $3,069,245. 0.48% of the stock is owned by company insiders.

Semtech Price Performance

SMTC stock opened at $152.54 on Monday. The company has a market cap of $14.21 billion, a P/E ratio of -391.13 and a beta of 2.32. Semtech Corporation has a 52 week low of $34.59 and a 52 week high of $172.35. The company's 50-day moving average price is $108.74 and its 200 day moving average price is $89.40. 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 (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.06. The firm had revenue of $291.00 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%. The firm's revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, research analysts expect that Semtech Corporation will post 1.6 earnings per share 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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