Semtech Corporation $SMTC Stock Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Semtech stake by 56.3% in the third quarter, acquiring 196,734 additional shares and ending with a position worth approximately $97.5 million.
• Analysts remain broadly optimistic, with a “Moderate Buy” consensus and an average price target of $213.11. Recent quarterly results exceeded expectations, while stronger data-center demand and AI infrastructure spending are supporting the company’s growth outlook.
• Semtech shares opened at $136.73 after declining 5.2%, despite reporting 32.7% year-over-year revenue growth. Insiders sold 13,737 shares worth roughly $2.27 million during the latest quarter, and elevated valuation concerns remain a potential risk.

Assenagon Asset Management S.A. grew its stake in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 56.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 546,422 shares of the semiconductor company's stock after purchasing an additional 196,734 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.59% of Semtech worth $97,454,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Leonteq Securities AG increased its stake in shares of Semtech by 11.2% during the first quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company's stock valued at $90,000 after purchasing an additional 118 shares in the last quarter. Corient Private Wealth LP boosted its stake in Semtech by 4.0% in the 2nd quarter. Corient Private Wealth LP now owns 3,147 shares of the semiconductor company's stock worth $515,000 after purchasing an additional 122 shares during the period. ABS Investment Management LLC purchased a new stake in Semtech during the 2nd quarter valued at approximately $178,035,000. FNY Investment Advisers LLC grew its holdings in Semtech by 900.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company's stock valued at $32,000 after buying an additional 180 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Semtech during the second quarter valued at approximately $32,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SMTC. New Street Research set a $230.00 target price on shares of Semtech in a report on Thursday, August 20th. TD Cowen reiterated a "buy" rating and issued a $215.00 price target on shares of Semtech in a report on Friday. Needham & Company LLC reiterated a "buy" rating and issued a $200.00 price target on shares of Semtech in a report on Wednesday, August 26th. Robert W. Baird boosted their price target on shares of Semtech from $225.00 to $300.00 and gave the stock an "outperform" rating in a research note on Thursday, August 27th. Finally, Benchmark restated a "buy" rating on shares of Semtech in a research report on Thursday, August 20th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $213.11.

Insider Transactions at Semtech

In other Semtech news, Director Rodolpho C. Cardenuto sold 5,321 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $877,965.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jason Elliot Green sold 2,766 shares of the firm's stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $190.35, for a total transaction of $526,508.10. Following the completion of the sale, the executive vice president owned 7,367 shares in the company, valued at $1,402,308.45. This represents a 27.30% 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 quarter, insiders sold 13,737 shares of company stock worth $2,267,877. Company insiders own 0.44% of the company's stock.

Semtech Trading Down 5.2%

NASDAQ:SMTC opened at $136.73 on Friday. The firm has a 50-day simple moving average of $156.97 and a 200-day simple moving average of $139.21. Semtech Corporation has a one year low of $60.28 and a one year high of $201.99. The firm has a market cap of $12.76 billion, a P/E ratio of 90.55 and a beta of 2.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The company's quarterly revenue was up 32.7% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities analysts anticipate that Semtech Corporation will post 2.65 EPS for the current fiscal year.

Semtech News Roundup

Here are the key news stories impacting Semtech this week:

• Positive Sentiment: Semtech raised its near-term Q3 guidance and presented a longer-term outlook through 2030, helping support a recovery in the stock. Northland Securities upgraded SMTC from “market perform” to “outperform” and set a $186 price target. Semtech rises as it boosts Q3 guidance, offers up 2030 outlook; Northland upgrades
• Positive Sentiment: The company expects data-center revenue to more than double in fiscal 2028 and 2029. Baird reaffirmed its “outperform” rating and $300 target, citing record bookings and strong two-year visibility from demand for copper, fiber and optical connectivity used in AI infrastructure. Semtech eyes data center revenue surge as AI infrastructure spending grows
• Positive Sentiment: TD Cowen maintained a “buy” rating with a $215 price target, while BMO raised its target to $230. These targets indicate analysts see substantial upside if Semtech delivers on its data-center growth plans.
• Positive Sentiment: Investors purchased approximately 6,179 SMTC call options, about 43% above average daily volume, signaling increased speculative interest in a rebound.
• Neutral Sentiment: Stifel lowered its price target from $220 to $200 but retained a “buy” rating, suggesting valuation or execution concerns while preserving a positive long-term view. Semtech Stock Rebounds as Wall Street Turns Focus to Near-Term Earnings Targets
• Negative Sentiment: Despite the improved outlook, some investors viewed SMTC as expensive after its roughly eightfold run over the past year. That valuation concern likely contributed to selling pressure around analyst day and could limit further gains unless earnings growth accelerates. Semtech Stock Looks Expensive After Its 8x Run

Semtech Company Profile

Semtech Corporation is a global semiconductor and technology company that designs and supplies analog and mixed-signal products for communications, industrial, automotive, consumer, and infrastructure applications. Its solutions are used to manage, protect, connect, and transmit data in electronic systems.

The company's portfolio includes signal-integrity products, protection devices, power-management components, optical and high-speed connectivity solutions, and video-processing technologies.

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