Tidal Investments LLC Invests $22.73 Million in Semtech Corporation $SMTC

Key Points

• Tidal Investments initiated a $22.73 million position in Semtech, purchasing 140,429 shares and owning approximately 0.15% of the company. Several other institutional investors also increased or initiated holdings.
• Semtech reported quarterly earnings of $0.71 per share, beating estimates of $0.61, while revenue rose 32.7% year over year to $341.87 million. The stock opened at $159.13, with a market capitalization of approximately $14.85 billion.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $204.71. Meanwhile, company insiders sold 23,234 shares worth about $3.30 million over the past 90 days.

Tidal Investments LLC purchased a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 140,429 shares of the semiconductor company's stock, valued at approximately $22,728,000. Tidal Investments LLC owned about 0.15% of Semtech at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. IPG Investment Advisors LLC bought a new position in Semtech in the 2nd quarter valued at $296,000. WINTON GROUP Ltd acquired a new stake in shares of Semtech in the second quarter valued at $599,000. Engineers Gate Manager LP raised its holdings in shares of Semtech by 450.5% in the second quarter. Engineers Gate Manager LP now owns 58,129 shares of the semiconductor company's stock valued at $9,408,000 after buying an additional 47,569 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Semtech during the 2nd quarter worth about $96,000. Finally, Arizona State Retirement System grew its holdings in Semtech by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 25,648 shares of the semiconductor company's stock worth $4,151,000 after acquiring an additional 230 shares during the last quarter.

Semtech Stock Down 2.9%

Shares of NASDAQ:SMTC opened at $159.13 on Friday. Semtech Corporation has a one year low of $57.50 and a one year high of $177.35. The company has a 50 day moving average of $133.22 and a 200-day moving average of $123.06. 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 stock has a market cap of $14.85 billion, a price-to-earnings ratio of 105.38 and a beta of 2.35.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.10. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The business had revenue of $341.87 million during the quarter, compared to the consensus estimate of $328.67 million. During the same period in the previous year, the firm posted $0.41 earnings per share. Semtech's revenue for the quarter was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, sell-side analysts forecast that Semtech Corporation will post 2.64 earnings per share for the current year.

Insider Activity at Semtech

In other news, CFO Mark Lin sold 970 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total value of $145,897.70. Following the transaction, the chief financial officer owned 34,896 shares of the company's stock, valued at $5,248,707.36. This represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the firm's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total value of $1,086,300.00. Following the completion of the transaction, the chief operating officer owned 96,862 shares in the company, valued at $12,378,963.60. This represents a 8.07% 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. In the last ninety days, insiders have sold 23,234 shares of company stock worth $3,304,706. 0.44% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Craig Hallum boosted their target price on shares of Semtech from $105.00 to $205.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Morgan Stanley increased their price target on shares of Semtech from $175.00 to $195.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 26th. Benchmark reissued a "buy" rating on shares of Semtech in a report on Thursday, August 20th. New Street Research set a $230.00 price objective on shares of Semtech in a research report on Thursday, August 20th. Finally, Northland Securities raised Semtech from a "market perform" rating to an "outperform" rating and set a $182.00 price objective on the stock in a report on Thursday, August 27th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.71.

Semtech Company Profile

Semtech Corporation NASDAQ: SMTC is a global semiconductor and technology company that designs and supplies analog and mixed-signal products. Its solutions are used to manage, protect, connect and process electronic signals in infrastructure, data centers, industrial systems, automotive applications, consumer devices and communications equipment.

The company's portfolio includes signal-integrity and connectivity products, power-management and protection devices, wireless and radio-frequency solutions, and specialized semiconductors.

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