Machina Capital S.A.S. Buys New Position in Semtech Corporation $SMTC

Machina Capital S.A.S. bought a new position in shares of Semtech Corporation (NASDAQ:SMTC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,566 shares of the semiconductor company’s stock, valued at approximately $1,171,000.

Other hedge funds also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund grew its stake in shares of Semtech by 58.4% in the third quarter. Illinois Municipal Retirement Fund now owns 26,674 shares of the semiconductor company’s stock worth $4,757,000 after acquiring an additional 9,839 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of Semtech by 25.0% during the third quarter. New York Life Investment Management LLC now owns 15,156 shares of the semiconductor company’s stock worth $2,703,000 after acquiring an additional 3,028 shares during the period. Gen Wealth Partners Inc purchased a new stake in shares of Semtech during the third quarter worth $175,000. AlphaCore Capital LLC purchased a new stake in shares of Semtech during the third quarter worth $213,000. Finally, Retirement Systems of Alabama raised its stake in shares of Semtech by 21.6% in the third quarter. Retirement Systems of Alabama now owns 123,360 shares of the semiconductor company’s stock valued at $22,001,000 after acquiring an additional 21,904 shares in the last quarter.

Semtech Trading Down 4.6%

NASDAQ SMTC opened at $119.44 on Friday. Semtech Corporation has a 52 week low of $60.28 and a 52 week high of $201.99. The firm has a 50 day moving average of $154.04 and a two-hundred day moving average of $126.31. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $11.15 billion, a PE ratio of 79.10 and a beta of 2.50.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. The business had revenue of $341.87 million for the quarter, compared to analyst estimates of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The company’s revenue was up 32.7% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, research analysts expect that Semtech Corporation will post 2.80 EPS for the current fiscal year.

Insider Transactions at Semtech

In related news, Director Julie Ruehl sold 1,500 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $145.00, for a total value of $217,500.00. Following the transaction, the director owned 7,140 shares of the company’s stock, valued at $1,035,300. This represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Hou sold 2,000 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $138.71, for a total value of $277,420.00. Following the completion of the sale, the chief executive officer owned 60,799 shares in the company, valued at approximately $8,433,429.29. This represents a 3.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $2,337,597 over the last ninety days. Company insiders own 0.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SMTC. Wall Street Zen upgraded Semtech from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Benchmark restated a “buy” rating on shares of Semtech in a report on Thursday, August 20th. UBS Group increased their price target on Semtech from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Oppenheimer increased 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. Finally, New Street Research set a $230.00 price objective on Semtech in a research note on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $212.00.

About Semtech

Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems. The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.