Summit Creek Advisors LLC Invests $3.54 Million in Semtech Corporation $SMTC

Summit Creek Advisors LLC bought a new position in shares of Semtech Corporation (NASDAQ:SMTC) during the second quarter, HoldingsChannel.com reports. The firm bought 21,844 shares of the semiconductor company’s stock, valued at approximately $3,535,000.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Semtech by 12,214.3% during the first quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock worth $89,000 after buying an additional 2,565 shares during the last quarter. Empowered Funds LLC grew its position in shares of Semtech by 11.5% in the 1st quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock valued at $323,000 after buying an additional 968 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Semtech by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock valued at $14,166,000 after buying an additional 22,629 shares during the last quarter. Strs Ohio acquired a new stake in shares of Semtech in the first quarter valued at about $65,000. Finally, Cetera Investment Advisers bought a new position in shares of Semtech during the second quarter worth about $226,000.

Insider Buying and Selling

In related news, COO Asaf Silberstein sold 8,500 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total value of $1,086,300.00. Following the completion of the sale, the chief operating officer directly owned 96,862 shares of the company’s stock, valued at $12,378,963.60. The trade was a 8.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 that occurred on Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total value of $294,093.60. Following the completion of the transaction, the executive vice president owned 8,611 shares in the company, valued at approximately $1,118,568.90. The trade was a 20.82% 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. Insiders sold a total of 21,734 shares of company stock worth $3,133,986 over the last 90 days. 0.44% of the stock is owned by company insiders.

Semtech Stock Performance

NASDAQ:SMTC opened at $135.23 on Wednesday. The company has a fifty day moving average of $140.08 and a 200-day moving average of $116.78. The firm has a market capitalization of $12.60 billion, a P/E ratio of -346.74 and a beta of 2.35. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. Semtech Corporation has a twelve month low of $46.02 and a twelve month high of $177.35.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (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 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%. Semtech’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, sell-side analysts anticipate that Semtech Corporation will post 1.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Robert W. Baird upped their target price on Semtech from $110.00 to $225.00 and gave the company an “outperform” 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 report on Monday, June 29th. Morgan Stanley upped their price objective on shares of Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Northland Securities cut shares of Semtech from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, TD Cowen lifted their target price on shares of Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $189.07.

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.