Heartland Advisors Inc. Buys New Shares in Semtech Corporation $SMTC

Heartland Advisors Inc. bought a new position in shares of Semtech Corporation (NASDAQ:SMTC) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 48,572 shares of the semiconductor company’s stock, valued at approximately $7,861,000.

Several other large investors have also recently bought and sold shares of the stock. FNY Investment Advisers LLC raised its stake in shares of Semtech by 900.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 180 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Semtech in the 2nd quarter valued at approximately $32,000. Allworth Financial LP bought a new position in shares of Semtech in the second quarter valued at $55,000. Allied Private Wealth LLC bought a new position in shares of Semtech in the second quarter valued at $65,000. Finally, Banque Cantonale Vaudoise acquired a new position in Semtech during the first quarter worth $33,000.

Wall Street Analysts Forecast Growth

SMTC has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Semtech in a research report on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. Citigroup lowered shares of Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. New Street Research set a $230.00 target price on shares of Semtech in a report on Thursday. Finally, Robert W. Baird raised their target price on shares of Semtech from $110.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $189.47.

Insider Buying and Selling at Semtech

In related news, COO Asaf Silberstein sold 8,500 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total value of $1,086,300.00. Following the transaction, the chief operating officer owned 96,862 shares in the company, valued at approximately $12,378,963.60. This represents a 8.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total transaction of $145,897.70. Following the completion of the transaction, the chief financial officer directly owned 34,896 shares in the company, valued at approximately $5,248,707.36. This represents a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,734 shares of company stock worth $3,133,986 in the last ninety days. Insiders own 0.44% of the company’s stock.

Semtech Trading Down 0.6%

Shares of Semtech stock opened at $124.09 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The business has a fifty day simple moving average of $137.87 and a two-hundred day simple moving average of $117.45. Semtech Corporation has a 1 year low of $49.04 and a 1 year high of $177.35. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of -318.18 and a beta of 2.35.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. The firm had revenue of $291.02 million for the quarter, compared to the consensus estimate of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Research analysts forecast that Semtech Corporation will post 1.81 EPS for the current year.

About Semtech

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.