VIRGINIA RETIREMENT SYSTEMS ET Al Buys 8,900 Shares of Semtech Corporation $SMTC

Key Points

• Virginia Retirement Systems increased its Semtech position by 41.9% in the third quarter, buying 8,900 shares for a total holding of 30,139 shares valued at approximately $5.38 million. Several other institutional investors also initiated or expanded positions.
• Semtech insiders sold 14,237 shares worth about $2.34 million during the quarter, including sales by an executive vice president and the CFO under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $213.11. The company recently exceeded quarterly earnings and revenue estimates, with revenue rising 32.7% year over year.

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Semtech Corporation (NASDAQ:SMTC - Free Report) by 41.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,139 shares of the semiconductor company's stock after buying an additional 8,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Semtech were worth $5,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new stake in Semtech in the third quarter valued at approximately $270,000. North Dakota State Investment Board increased its stake in shares of Semtech by 3.8% in the third quarter. North Dakota State Investment Board now owns 2,838 shares of the semiconductor company's stock worth $506,000 after buying an additional 105 shares during the period. Moody Aldrich Partners LLC bought a new stake in Semtech during the 3rd quarter valued at $225,000. Oppenheimer & Co. Inc. raised its holdings in Semtech by 202.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 3,898 shares of the semiconductor company's stock valued at $695,000 after buying an additional 2,608 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in Semtech during the 3rd quarter valued at $361,000.

Insider Buying and Selling

In related news, EVP Jason Elliot Green sold 2,766 shares of Semtech stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total transaction of $526,508.10. Following the sale, the executive vice president directly owned 7,367 shares in the company, valued at $1,402,308.45. The trade was a 27.30% decrease in their ownership of the stock. 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, CFO Mark Lin sold 967 shares of the company's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $178.87, for a total value of $172,967.29. Following the completion of the sale, the chief financial officer directly owned 35,999 shares in the company, valued at approximately $6,439,141.13. The trade was a 2.62% 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. Insiders have sold a total of 14,237 shares of company stock worth $2,337,597 over the last quarter. Company insiders own 0.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SMTC. DA Davidson set a $230.00 price objective on shares of Semtech in a research report on Friday, October 16th. Stifel Nicolaus dropped their target price on shares of Semtech from $220.00 to $200.00 and set a "buy" rating for the company in a report on Friday, October 16th. UBS Group raised their target price on Semtech from $225.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Wall Street Zen upgraded Semtech from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 29th. Finally, Oppenheimer upped their price target on Semtech from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Semtech has a consensus rating of "Moderate Buy" and a consensus target price of $213.11.

Semtech Stock Performance

NASDAQ:SMTC opened at $127.38 on Monday. The company has a 50-day moving average price of $157.16 and a 200-day moving average price of $124.68. Semtech Corporation has a 12 month low of $60.28 and a 12 month high of $201.99. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 84.36 and a beta of 2.50.

Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) 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 company had revenue of $341.87 million during the quarter, compared to the consensus estimate of $328.67 million. During the same period in the prior year, the firm earned $0.41 earnings per share. Semtech's revenue was up 32.7% on a year-over-year basis. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities analysts predict that Semtech Corporation will post 2.80 EPS for the current year.

Semtech Profile

Semtech Corporation NASDAQ: SMTC is a global semiconductor and infrastructure technology company that develops analog and mixed-signal products for communications, industrial, data center, consumer, and automotive applications. Its portfolio is designed to improve connectivity, power efficiency, signal integrity, and protection in electronic systems.

The company's products include high-speed connectivity solutions for data centers and communications networks, power management and protection devices, signal integrity components, and wireless and radio-frequency technologies.

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