7,308 Shares of Semtech Corporation $SMTC Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in Semtech Corporation (NASDAQ:SMTC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,308 shares of the semiconductor company’s stock, valued at approximately $1,303,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Osterweis Capital Management Inc. acquired a new position in Semtech in the 2nd quarter valued at about $9,783,000. Canada Pension Plan Investment Board acquired a new stake in shares of Semtech during the 2nd quarter worth approximately $39,313,000. Swiss National Bank raised its position in shares of Semtech by 6.9% during the 1st quarter. Swiss National Bank now owns 183,000 shares of the semiconductor company’s stock valued at $14,071,000 after buying an additional 11,800 shares during the period. Nicholas Investment Partners LP purchased a new stake in shares of Semtech during the 2nd quarter valued at approximately $13,673,000. Finally, Sei Investments Co. lifted its holdings in Semtech by 65.9% in the first quarter. Sei Investments Co. now owns 357,875 shares of the semiconductor company’s stock valued at $27,517,000 after acquiring an additional 142,197 shares during the last quarter.

Semtech Stock Up 12.7%

Semtech stock opened at $103.21 on Friday. Semtech Corporation has a fifty-two week low of $60.28 and a fifty-two week high of $201.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70. The firm has a 50 day moving average price of $155.15 and a 200 day moving average price of $125.55. The company has a market capitalization of $9.63 billion, a PE ratio of 68.35 and a beta of 2.50.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%. The company had revenue of $341.87 million for the quarter, compared to analyst estimates of $328.67 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Research analysts expect that Semtech Corporation will post 2.80 earnings per share for the current year.

Insider Transactions at Semtech

In related news, EVP Jason Elliot Green sold 2,766 shares of the firm’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total transaction of $526,508.10. Following the completion of the transaction, the executive vice president directly owned 7,367 shares in the company, valued at $1,402,308.45. This trade represents a 27.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rodolpho C. Cardenuto sold 5,321 shares of Semtech stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $165.00, for a total value of $877,965.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 14,237 shares of company stock worth $2,337,597. 0.44% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SMTC has been the subject of several analyst reports. Northland Securities upgraded Semtech from a “market perform” rating to an “outperform” rating and set a $186.00 price objective for the company in a research report on Friday, October 16th. BMO Capital Markets lifted their target price on Semtech from $155.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, October 13th. New Street Research set a $230.00 target price on Semtech in a research report on Thursday, August 20th. Oppenheimer upped their price target on Semtech from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, October 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $200.00 price target on shares of Semtech in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $213.11.

Semtech Profile

Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems.

The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.

Founded in 1960, Semtech serves customers around the world through its international operations and sales network.