New York State Teachers Retirement System Trims Holdings in Semtech Corporation $SMTC

New York State Teachers Retirement System trimmed its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,582 shares of the semiconductor company’s stock after selling 5,720 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Semtech worth $5,888,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Royce & Associates LP boosted its holdings in shares of Semtech by 144.5% in the fourth quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock valued at $7,930,000 after purchasing an additional 63,603 shares during the period. Argos Wealth Advisors LLC bought a new stake in Semtech during the 4th quarter valued at $640,000. Geode Capital Management LLC raised its position in Semtech by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock valued at $154,704,000 after purchasing an additional 6,715 shares in the last quarter. Atreides Management LP raised its holdings in shares of Semtech by 2.4% in the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company’s stock valued at $48,453,000 after acquiring an additional 16,192 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Semtech by 21.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 155,576 shares of the semiconductor company’s stock valued at $11,709,000 after acquiring an additional 27,781 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SMTC. Robert W. Baird increased their target price on shares of Semtech from $110.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Mizuho set a $225.00 price objective on shares of Semtech in a report on Wednesday, May 27th. Zacks Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Susquehanna upped their target price on Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, May 27th. Finally, Needham & Company LLC increased their target price on Semtech from $105.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Semtech currently has an average rating of “Moderate Buy” and a consensus target price of $189.07.

Insider Transactions at Semtech

In other Semtech news, CFO Mark Lin sold 970 shares of the firm’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 sale, the chief financial officer owned 34,896 shares of the company’s stock, valued at approximately $5,248,707.36. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul V. Walsh, Jr. sold 500 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total value of $82,495.00. Following the sale, the director owned 28,100 shares in the company, valued at $4,636,219. The trade was a 1.75% 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. Over the last three months, insiders have sold 14,470 shares of company stock worth $2,012,333. 0.48% of the stock is currently owned by corporate insiders.

Semtech Trading Down 9.0%

NASDAQ SMTC opened at $126.40 on Wednesday. Semtech Corporation has a 52 week low of $42.71 and a 52 week high of $177.35. The company has a 50 day moving average price of $145.68 and a 200 day moving average price of $105.43. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. The firm has a market cap of $11.77 billion, a PE ratio of -324.10 and a beta of 2.31.

Semtech (NASDAQ:SMTC) last announced 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. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The company had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. During the same period last year, the firm earned $0.38 earnings per share. Semtech’s revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, sell-side analysts forecast that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Semtech Company 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.