Assenagon Asset Management S.A. Sells 431,315 Shares of Semtech Corporation $SMTC

Assenagon Asset Management S.A. lessened its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 55.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 349,688 shares of the semiconductor company’s stock after selling 431,315 shares during the period. Assenagon Asset Management S.A.’s holdings in Semtech were worth $56,597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SMTC. Banque Cantonale Vaudoise bought a new position in Semtech in the first quarter valued at about $33,000. IFP Advisors Inc bought a new position in shares of Semtech in the 4th quarter worth $53,000. Sound Income Strategies LLC bought a new stake in Semtech in the fourth quarter valued at about $60,000. Harbor Investment Advisory LLC acquired a new position in Semtech in the second quarter valued at about $127,000. Finally, NewEdge Advisors LLC boosted its holdings in Semtech by 1,215.4% during the third quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock worth $61,000 after buying an additional 790 shares during the last quarter.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 970 shares of Semtech 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 $5,248,707.36. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,264 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total value of $294,093.60. Following the completion of the sale, the executive vice president directly owned 8,611 shares of the company’s stock, valued at $1,118,568.90. The trade was a 20.82% 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 22,234 shares of company stock worth $3,203,091 in the last ninety days. 0.44% of the stock is currently owned by corporate insiders.

Semtech Stock Performance

SMTC opened at $139.42 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. Semtech Corporation has a 52-week low of $46.02 and a 52-week high of $177.35. The firm has a market cap of $12.99 billion, a P/E ratio of -357.49 and a beta of 2.35. The business’s fifty day moving average is $143.09 and its 200-day moving average is $113.67.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $291.02 million for the quarter, compared to analyst estimates 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 prior year, the firm posted $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Sell-side analysts expect that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SMTC has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Zacks Research upgraded shares of Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Robert W. Baird boosted their target price on Semtech from $110.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Susquehanna increased their price target on Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average target price of $189.07.

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.