Great Lakes Advisors LLC Purchases Shares of 102,682 Semtech Corporation $SMTC

Great Lakes Advisors LLC acquired a new stake in Semtech Corporation (NASDAQ:SMTC) in the second quarter, HoldingsChannel reports. The institutional investor acquired 102,682 shares of the semiconductor company’s stock, valued at approximately $16,619,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC lifted its holdings in shares of Semtech by 900.0% during the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 180 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Semtech during the second quarter worth approximately $32,000. Banque Cantonale Vaudoise acquired a new position in shares of Semtech during the first quarter worth approximately $33,000. IFP Advisors Inc bought a new stake in shares of Semtech during the fourth quarter valued at approximately $53,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Semtech by 24.1% during the second quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 247 shares during the last quarter.

Wall Street Analysts Forecast Growth

SMTC has been the subject of several research reports. Stifel Nicolaus lifted their target price on Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. B. Riley Financial upped their price target on Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Roth Capital raised their price target on Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. Finally, Zacks Research raised Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $189.07.

Semtech Trading Down 12.3%

NASDAQ:SMTC opened at $135.23 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The business’s 50-day simple moving average is $140.08 and its 200-day simple moving average is $116.78. Semtech Corporation has a fifty-two week low of $46.02 and a fifty-two week high of $177.35. The stock has a market capitalization of $12.60 billion, a PE ratio of -346.74 and a beta of 2.35.

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

Insiders Place Their Bets

In other news, Director Paul V. Walsh, Jr. sold 500 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total value of $82,495.00. Following the sale, the director directly owned 28,100 shares in the company, valued at $4,636,219. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $133.00, for a total value of $266,000.00. Following the completion of the sale, the chief executive officer owned 64,799 shares in the company, valued at $8,618,267. The trade was a 2.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 in the last ninety days. 0.44% of the stock is owned by insiders.

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.