Nicholas Investment Partners LP Purchases Shares of 64,399 Semtech Corporation $SMTC

Nicholas Investment Partners LP purchased a new stake in shares of Semtech Corporation (NASDAQ:SMTC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 64,399 shares of the semiconductor company’s stock, valued at approximately $4,746,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SMTC. Hantz Financial Services Inc. raised its holdings in Semtech by 243.2% during the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 360 shares during the period. AlphaQuest LLC lifted its stake in Semtech by 42.5% in the 3rd quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 173 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Semtech by 65.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 235 shares in the last quarter. Assetmark Inc. lifted its stake in Semtech by 1,745.5% in the 3rd quarter. Assetmark Inc. now owns 609 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 576 shares in the last quarter. Finally, IFP Advisors Inc purchased a new stake in Semtech in the 4th quarter worth $53,000.

Semtech Stock Performance

Shares of NASDAQ:SMTC opened at $166.71 on Friday. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of -427.46 and a beta of 2.32. Semtech Corporation has a 12 month low of $39.07 and a 12 month high of $172.35. The firm’s 50-day moving average is $125.55 and its 200 day moving average is $95.81. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results 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 company 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 firm’s revenue was up 15.9% compared to the same quarter last year. 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. Research analysts predict that Semtech Corporation will post 1.81 EPS for the current year.

Wall Street Analyst Weigh In

SMTC has been the topic of several research analyst reports. TD Cowen reiterated a “buy” rating on shares of Semtech in a research note on Tuesday, February 24th. Morgan Stanley boosted their price target on shares of Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Oppenheimer set a $200.00 price target on shares of Semtech in a research note on Wednesday, May 27th. Craig Hallum boosted their price target on shares of Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, 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 research note on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.73.

Insider Activity at Semtech

In related news, Director Paul V. Walsh, Jr. sold 500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $138.21, for a total transaction of $69,105.00. Following the transaction, the director directly owned 23,279 shares in the company, valued at approximately $3,217,390.59. This represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $689,409.30. Following the transaction, the chief financial officer owned 32,710 shares in the company, valued at $2,454,885.50. The trade was a 21.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,660 shares of company stock worth $2,268,140 in the last three months. 0.48% of the stock is owned by insiders.

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.