Alpine Global Management LLC Purchases New Position in Semtech Corporation $SMTC

Alpine Global Management LLC purchased a new stake in Semtech Corporation (NASDAQ:SMTC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,000 shares of the semiconductor company’s stock, valued at approximately $368,000.

Several other hedge funds have also bought and sold shares of SMTC. Think Investments LP purchased a new position in shares of Semtech during the 3rd quarter valued at approximately $58,618,000. Ameriprise Financial Inc. increased its stake in shares of Semtech by 10.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock valued at $321,040,000 after purchasing an additional 666,456 shares in the last quarter. Atreides Management LP acquired a new position in Semtech in the 2nd quarter worth about $29,880,000. Westfield Capital Management Co. LP raised its holdings in Semtech by 23.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,380,373 shares of the semiconductor company’s stock worth $241,528,000 after purchasing an additional 633,113 shares during the period. Finally, Schroder Investment Management Group boosted its position in Semtech by 199.3% during the third quarter. Schroder Investment Management Group now owns 879,880 shares of the semiconductor company’s stock worth $62,867,000 after purchasing an additional 585,852 shares in the last quarter.

Semtech Price Performance

NASDAQ:SMTC opened at $158.23 on Friday. Semtech Corporation has a one year low of $40.25 and a one year high of $177.35. The stock has a market cap of $14.74 billion, a PE ratio of -405.72 and a beta of 2.32. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. The stock has a 50 day moving average price of $133.24 and a 200 day moving average price of $98.89.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business 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 company earned $0.38 EPS. The company’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 expect that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Semtech news, CFO Mark Lin sold 9,186 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $75.05, for a total value of $689,409.30. Following the transaction, the chief financial officer owned 32,710 shares of the company’s stock, valued at $2,454,885.50. This represents a 21.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hong Q. Hou sold 2,000 shares of the stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $90.11, for a total transaction of $180,220.00. Following the transaction, the chief executive officer directly owned 73,228 shares of the company’s stock, valued at approximately $6,598,575.08. This trade represents a 2.66% decrease in their position. 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. Over the last quarter, insiders have sold 25,160 shares of company stock worth $2,227,705. Corporate insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

SMTC has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Citigroup lowered Semtech from a “buy” rating to a “market perform” rating in a research report on Tuesday, May 26th. B. Riley Financial lifted their price target on shares of Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Robert W. Baird boosted their price target on shares of Semtech from $110.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Oppenheimer set a $200.00 price objective on shares of Semtech in a report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.73.

Semtech 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.