Sterling Capital Management LLC Sells 32,625 Shares of Semtech Corporation $SMTC

Sterling Capital Management LLC reduced its position in Semtech Corporation (NASDAQ:SMTC) by 68.9% during the first quarter, HoldingsChannel reports. The fund owned 14,716 shares of the semiconductor company’s stock after selling 32,625 shares during the quarter. Sterling Capital Management LLC’s holdings in Semtech were worth $1,132,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Royce & Associates LP raised its position in shares of Semtech by 144.5% in the fourth quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock valued at $7,930,000 after purchasing an additional 63,603 shares during the period. Argos Wealth Advisors LLC bought a new position in Semtech in the 4th quarter worth approximately $640,000. GW&K Investment Management LLC bought a new position in Semtech in the 3rd quarter worth approximately $27,125,000. Geode Capital Management LLC grew its stake in Semtech by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock valued at $154,704,000 after buying an additional 6,715 shares in the last quarter. Finally, Atreides Management LP grew its stake in Semtech by 2.4% in the 3rd quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company’s stock valued at $48,453,000 after buying an additional 16,192 shares in the last quarter.

Semtech Trading Up 3.7%

NASDAQ SMTC opened at $161.85 on Wednesday. The stock’s 50-day simple moving average is $142.59 and its two-hundred day simple moving average is $103.18. Semtech Corporation has a twelve month low of $42.38 and a twelve month high of $177.35. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $15.08 billion, a price-to-earnings ratio of -415.00 and a beta of 2.32.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. The firm had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Research analysts forecast that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SMTC shares. Susquehanna boosted their target price on shares of Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, May 27th. Mizuho set a $225.00 price target on Semtech in a research report on Wednesday, May 27th. Citigroup lowered Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. Needham & Company LLC increased their price objective on Semtech from $105.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, UBS Group raised their target price on Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average price target of $189.07.

Insider Transactions at Semtech

In other Semtech news, CEO Hong Q. Hou sold 2,000 shares of Semtech stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $162.10, for a total transaction of $324,200.00. Following the transaction, the chief executive officer directly owned 69,228 shares of the company’s stock, valued at approximately $11,221,858.80. This trade represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin Burvill sold 2,500 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $88.98, for a total transaction of $222,450.00. Following the completion of the sale, the director directly owned 4,409 shares of the company’s stock, valued at $392,312.82. This trade represents a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,500 shares of company stock worth $1,866,435 in the last three months. Corporate insiders own 0.48% of the company’s stock.

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.