Semtech Corporation $SMTC Stock Position Boosted by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Semtech stake by 12.4% in the third quarter, adding 12,075 shares to bring its holding to 109,215 shares, valued at about $19.55 million. Several other institutional investors also increased their positions.
• Semtech reported quarterly EPS of $0.71, beating the $0.61 consensus, while revenue of $341.87 million exceeded expectations and rose 32.7% year over year. The company also issued Q3 2027 EPS guidance of $1.02–$1.08.
• Analysts’ average rating is “Moderate Buy,” with an average price target of $213.11. Company insiders sold 14,237 shares worth about $2.34 million over the past 90 days; the disclosed trades were made under pre-arranged Rule 10b5-1 plans.

Candriam S.C.A. grew its position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 12.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,215 shares of the semiconductor company's stock after purchasing an additional 12,075 shares during the quarter. Candriam S.C.A. owned approximately 0.12% of Semtech worth $19,550,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ethic Inc. raised its holdings in shares of Semtech by 191.5% during the 3rd quarter. Ethic Inc. now owns 7,970 shares of the semiconductor company's stock valued at $1,421,000 after buying an additional 5,236 shares in the last quarter. Summit Creek Advisors LLC lifted its holdings in Semtech by 84.9% in the 3rd quarter. Summit Creek Advisors LLC now owns 40,396 shares of the semiconductor company's stock worth $7,205,000 after buying an additional 18,552 shares during the period. Kestra Advisory Services LLC grew its position in shares of Semtech by 53.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 4,328 shares of the semiconductor company's stock worth $772,000 after buying an additional 1,514 shares during the last quarter. REAP Financial Group LLC purchased a new position in shares of Semtech during the third quarter valued at approximately $27,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of Semtech by 48.0% during the third quarter. Commonwealth Equity Services LLC now owns 9,944 shares of the semiconductor company's stock valued at $1,774,000 after buying an additional 3,227 shares during the period.

Semtech Price Performance

NASDAQ:SMTC opened at $103.21 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31. The firm's 50-day moving average price is $155.15 and its 200-day moving average price is $125.55. The company has a market capitalization of $9.63 billion, a PE ratio of 68.35 and a beta of 2.50. Semtech Corporation has a 1-year low of $60.28 and a 1-year high of $201.99.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.10. The company had revenue of $341.87 million during the quarter, compared to analysts' expectations of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. Semtech's revenue was up 32.7% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, equities analysts predict that Semtech Corporation will post 2.80 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SMTC shares. BMO Capital Markets lifted their price target on shares of Semtech from $155.00 to $230.00 and gave the company an "outperform" rating in a report on Tuesday, October 13th. Wall Street Zen upgraded shares of Semtech from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 29th. Morgan Stanley set a $205.00 target price on shares of Semtech in a research report on Friday, October 16th. Weiss Ratings lowered shares of Semtech from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday. Finally, Robert W. Baird boosted their price target on shares of Semtech from $225.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Semtech currently has an average rating of "Moderate Buy" and an average target price of $213.11.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 967 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $178.87, for a total transaction of $172,967.29. Following the completion of the transaction, the chief financial officer owned 35,999 shares of the company's stock, valued at $6,439,141.13. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,766 shares of Semtech stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $190.35, for a total value of $526,508.10. Following the transaction, the executive vice president owned 7,367 shares of the company's stock, valued at $1,402,308.45. The trade was a 27.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 14,237 shares of company stock worth $2,337,597. Company insiders own 0.44% of the company's stock.

Semtech Company Profile

Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems.

The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.

Founded in 1960, Semtech serves customers around the world through its international operations and sales network.

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