Polar Asset Management Partners Inc. Lowers Stock Position in Semtech Corporation $SMTC

Polar Asset Management Partners Inc. cut its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 69.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,107 shares of the semiconductor company’s stock after selling 169,576 shares during the period. Polar Asset Management Partners Inc.’s holdings in Semtech were worth $5,698,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Royce & Associates LP lifted its holdings in Semtech by 144.5% during the fourth quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock worth $7,930,000 after buying 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 increased its holdings in shares of Semtech by 0.3% in 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 acquiring an additional 6,715 shares during the period. Strs Ohio increased its holdings in shares of Semtech by 558.9% in the 4th quarter. Strs Ohio now owns 48,100 shares of the semiconductor company’s stock valued at $3,544,000 after acquiring an additional 40,800 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Semtech by 21.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 155,576 shares of the semiconductor company’s stock worth $11,709,000 after acquiring an additional 27,781 shares in the last quarter.

Semtech Stock Performance

Shares of SMTC opened at $125.92 on Monday. Semtech Corporation has a 12 month low of $46.02 and a 12 month high of $177.35. The stock has a fifty day moving average price of $149.03 and a 200-day moving average price of $110.78. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. The firm has a market cap of $11.73 billion, a PE ratio of -322.87 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, topping the consensus estimate of $0.45 by $0.06. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The firm had revenue of $291.02 million for the quarter, compared to the consensus estimate of $283.53 million. During the same period in the previous year, the business earned $0.38 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities research analysts predict that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SMTC shares. Robert W. Baird upped their price objective on Semtech from $110.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. B. Riley Financial lifted their target price on Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Mizuho set a $225.00 target price on shares of Semtech in a report on Wednesday, May 27th. Craig Hallum increased their price target on shares of Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $189.07.

Insider Transactions at Semtech

In related news, insider John Michael Wilson sold 5,500 shares of Semtech stock in a transaction that occurred 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 completion of the sale, the insider directly owned 80,876 shares in the company, valued at $13,748,920. This trade represents a 6.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hong Q. Hou sold 2,000 shares of the business’s stock in a transaction that occurred 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 directly owned 64,799 shares in the company, valued at approximately $8,618,267. This represents a 2.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,234 shares of company stock worth $3,203,091 over the last ninety days. 0.44% of the stock is currently owned by insiders.

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.