SG Americas Securities LLC Raises Position in Semtech Corporation $SMTC

Key Points

• SG Americas Securities LLC increased its stake in Semtech by 16.5% in Q1, ending with 125,582 shares valued at about $9.66 million.
• Semtech reported strong quarterly results, with EPS of $0.51 beating estimates and revenue of $291.02 million topping expectations, while revenue rose 15.9% year over year.
• Wall Street remains bullish on SMTC, with several firms raising price targets and the stock carrying a consensus Moderate Buy rating and average target price of $189.07.

SG Americas Securities LLC lifted its position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 16.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,582 shares of the semiconductor company's stock after acquiring an additional 17,757 shares during the quarter. SG Americas Securities LLC owned 0.14% of Semtech worth $9,656,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc purchased a new stake in Semtech in the 4th quarter valued at approximately $53,000. Huntington National Bank raised its stake in shares of Semtech by 151.3% during the 3rd quarter. Huntington National Bank now owns 749 shares of the semiconductor company's stock worth $54,000 after buying an additional 451 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Semtech by 24.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company's stock valued at $57,000 after buying an additional 247 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Semtech in the 4th quarter valued at approximately $60,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Semtech by 1,215.4% in the third quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company's stock valued at $61,000 after buying an additional 790 shares in the last quarter.

Semtech Stock Down 7.7%

SMTC opened at $149.75 on Friday. The business's fifty day moving average is $140.43 and its two-hundred day moving average is $101.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. The company has a market cap of $13.95 billion, a price-to-earnings ratio of -383.97 and a beta of 2.32. Semtech Corporation has a one year low of $42.38 and a one year high of $177.35.

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

Insider Activity at Semtech

In related news, CFO Mark Lin sold 974 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $78.42, for a total value of $76,381.08. Following the sale, the chief financial officer owned 33,343 shares of the company's stock, valued at approximately $2,614,758.06. This represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Michael Wilson sold 5,500 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $170.00, for a total value of $935,000.00. Following the sale, the insider owned 80,876 shares in the company, valued at approximately $13,748,920. This trade represents a 6.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,974 shares of company stock valued at $2,555,791 in the last quarter. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on SMTC shares. B. Riley Financial increased their price objective on Semtech from $165.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Susquehanna boosted their target price on shares of Semtech from $170.00 to $200.00 and gave the stock a "positive" rating in a research report on Wednesday, May 27th. TD Cowen upped their price target on shares of Semtech from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Stifel Nicolaus increased their price target on shares of Semtech from $157.00 to $188.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Finally, Craig Hallum raised their price objective on shares of Semtech from $105.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $189.07.

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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