Wellington Management Group LLP lessened its holdings in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) by 37.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,915,766 shares of the semiconductor company's stock after selling 1,135,707 shares during the quarter. Wellington Management Group LLP owned 2.06% of Semtech worth $310,067,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of SMTC. Andar Capital Management HK Ltd acquired a new stake in shares of Semtech during the second quarter worth $162,000,000. Vanguard Group Inc. grew its stake in shares of Semtech by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company's stock worth $873,842,000 after acquiring an additional 298,987 shares in the last quarter. BlackRock Inc. bought a new position in Semtech in the second quarter valued at $1,577,947,000. Ameriprise Financial Inc. grew its holdings in shares of Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company's stock valued at $321,040,000 after acquiring an additional 666,456 shares in the last quarter. Finally, State Street Corp increased its position in shares of Semtech by 1.5% during the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company's stock worth $182,235,000 after purchasing an additional 60,788 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Oppenheimer set a $200.00 price objective on shares of Semtech in a research note on Wednesday, May 27th. BMO Capital Markets initiated coverage on shares of Semtech in a research report on Wednesday. They issued an "outperform" rating and a $155.00 target price for the company. Mizuho set a $225.00 price target on Semtech in a research report on Wednesday, May 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Semtech in a report on Thursday, June 18th. Finally, TD Cowen boosted their price target on Semtech from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $204.71.
View Our Latest Research Report on SMTC
Semtech Stock Performance
Shares of Semtech stock opened at $131.17 on Monday. The firm's 50 day moving average is $135.08 and its 200 day moving average is $119.31. The firm has a market capitalization of $12.24 billion, a PE ratio of 86.87 and a beta of 2.35. Semtech Corporation has a 1 year low of $55.18 and a 1 year high of $177.35. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $0.41 EPS. The firm's revenue was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities research analysts forecast that Semtech Corporation will post 2.63 earnings per share for the current fiscal year.
Key Stories Impacting Semtech
Here are the key news stories impacting Semtech this week:
- Positive Sentiment: Strong quarterly results: Semtech reported record sales of approximately $341.9 million, up about 33% year over year, while adjusted earnings of $0.71 per share exceeded the $0.61 consensus estimate. Net income reportedly expanded 89%. Why Semtech Stock Was Flying This Week
- Positive Sentiment: AI data-center momentum: Reports highlight roughly $100 million in AI data-center demand and identify connectivity as a potential bottleneck for AI infrastructure. This supports expectations for continued growth in Semtech’s analog and signal-integrity businesses. Analog Bets Pay Off: Semtech Shatters Records as AI Data Center Demand Hits $100M
- Positive Sentiment: Raised outlook and improving balance sheet: Coverage cites higher guidance, expanding margins, debt reduction, and expectations for stronger near-term growth. The company’s reported third-quarter fiscal 2027 EPS outlook is $1.02–$1.08. Semtech Stock Rallies on Strong Q2 Results and Raised Guidance
- Positive Sentiment: Analyst support: Northland Securities upgraded Semtech to Outperform with a $182 price target, while Needham reaffirmed its Buy rating. Other coverage points to a consensus target near $200, reinforcing the bullish narrative. Northland lifts Semtech rating
- Neutral Sentiment: New product opportunity: The LoRa Plus transceiver lineup could strengthen Semtech’s position in long-range IoT connectivity, although the financial contribution and adoption pace remain uncertain. What Does Semtech Gain From Its New LoRa Plus Transceivers?
- Negative Sentiment: Valuation and volatility risks: Semtech trades at a high earnings multiple, and its elevated beta makes the stock sensitive to profit-taking after a sharp advance. Unusually high trading volume indicates that investors are actively reassessing the shares following earnings. Semtech Sees Unusually-High Trading Volume After Strong Earnings
Insider Activity at Semtech
In related news, CEO Hong Q. Hou sold 2,000 shares of the business's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $133.00, for a total transaction of $266,000.00. Following the sale, the chief executive officer owned 64,799 shares in the company, valued at $8,618,267. The trade was a 2.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $150.41, for a total value of $145,897.70. Following the completion of the transaction, the chief financial officer directly owned 34,896 shares of the company's stock, valued at approximately $5,248,707.36. The trade was a 2.70% decrease in their position. 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 ninety days, insiders sold 21,734 shares of company stock valued at $3,133,986. 0.44% of the stock is owned by company insiders.
Semtech Profile
(
Free Report)
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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