Illinois Municipal Retirement Fund Acquires Shares of 42,604 Semtech Corporation $SMTC

Illinois Municipal Retirement Fund bought a new position in Semtech Corporation (NASDAQ:SMTC) during the 3rd quarter, Holdings Channel.com reports. The fund bought 42,604 shares of the semiconductor company’s stock, valued at approximately $3,044,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ameriprise Financial Inc. lifted its stake in Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after purchasing an additional 666,456 shares in the last quarter. State Street Corp raised its holdings 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 acquiring an additional 60,788 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Semtech by 9.8% during the 2nd quarter. Alliancebernstein L.P. now owns 3,318,384 shares of the semiconductor company’s stock valued at $149,792,000 after acquiring an additional 294,990 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of Semtech by 4.2% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,894,536 shares of the semiconductor company’s stock valued at $130,659,000 after acquiring an additional 115,921 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Semtech by 107.8% in the second quarter. Westfield Capital Management Co. LP now owns 2,747,260 shares of the semiconductor company’s stock valued at $124,011,000 after purchasing an additional 1,424,909 shares in the last quarter.

Insider Activity

In other news, COO Asaf Silberstein sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $92.00, for a total transaction of $920,000.00. Following the transaction, the chief operating officer directly owned 68,496 shares of the company’s stock, valued at approximately $6,301,632. This trade represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Michael Wilson sold 5,000 shares of Semtech stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $75.12, for a total transaction of $375,600.00. Following the sale, the insider directly owned 60,066 shares of the company’s stock, valued at $4,512,157.92. This represents a 7.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 26,967 shares of company stock valued at $2,236,108. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

SMTC has been the subject of several research reports. Wall Street Zen lowered shares of Semtech from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 26th. Piper Sandler reissued an “overweight” rating and set a $95.00 price objective (up from $70.00) on shares of Semtech in a research note on Thursday, December 11th. UBS Group reaffirmed a “buy” rating on shares of Semtech in a research note on Tuesday, November 25th. Robert W. Baird lifted their target price on Semtech from $70.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Semtech in a report on Monday, December 29th. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.21.

Semtech Trading Up 0.7%

SMTC opened at $87.11 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.71 and a current ratio of 2.43. The stock’s 50 day moving average price is $78.54 and its 200-day moving average price is $68.76. Semtech Corporation has a one year low of $24.05 and a one year high of $92.50. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 281.00 and a beta of 2.01.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 24th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $266.97 million during the quarter, compared to analyst estimates of $266.36 million. Semtech had a return on equity of 17.00% and a net margin of 2.77%.Semtech’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. On average, equities analysts forecast that Semtech Corporation will post -0.02 EPS for the current 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.