Sierra Summit Advisors LLC Buys New Shares in Semtech Corporation $SMTC

Sierra Summit Advisors LLC bought a new stake in Semtech Corporation (NASDAQ:SMTC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,968 shares of the semiconductor company’s stock, valued at approximately $459,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SMTC. Banque Cantonale Vaudoise acquired a new stake in Semtech in the first quarter valued at $33,000. IFP Advisors Inc acquired a new position in shares of Semtech during the 4th quarter worth about $53,000. Huntington National Bank increased its stake in shares of Semtech by 151.3% during the 3rd quarter. Huntington National Bank now owns 749 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 451 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Semtech in the 4th quarter valued at about $60,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Semtech by 1,215.4% in the 3rd quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 790 shares during the period.

Insider Transactions at Semtech

In related news, Director Martin Burvill sold 2,500 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $88.98, for a total value of $222,450.00. Following the completion of the sale, the director directly owned 4,409 shares in the company, valued at $392,312.82. The trade was a 36.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Hong Q. Hou sold 2,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $162.10, for a total value of $324,200.00. Following the completion of the transaction, the chief executive officer directly owned 69,228 shares in the company, valued at approximately $11,221,858.80. This represents a 2.81% 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. In the last 90 days, insiders sold 13,500 shares of company stock valued at $1,866,435. 0.48% of the stock is currently owned by company insiders.

Semtech Price Performance

Semtech stock opened at $135.27 on Friday. The stock has a market cap of $12.60 billion, a P/E ratio of -346.85 and a beta of 2.31. 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 $42.42 and a twelve month high of $177.35. The company’s 50-day moving average price is $144.68 and its two-hundred day moving average price is $104.31.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SMTC shares. TD Cowen lifted their price target on Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Susquehanna upped their price objective on Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, May 27th. Oppenheimer set a $200.00 price objective on Semtech in a research report on Wednesday, May 27th. Stifel Nicolaus lifted their target price on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Mizuho set a $225.00 target price on Semtech in a report on Wednesday, May 27th. One 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 stock. Based on data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and a consensus 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.