Public Employees Retirement System of Ohio Makes New $4.28 Million Investment in Semtech Corporation $SMTC

Public Employees Retirement System of Ohio bought a new position in Semtech Corporation (NASDAQ:SMTC) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 26,420 shares of the semiconductor company’s stock, valued at approximately $4,276,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Leonteq Securities AG raised its stake in Semtech by 11.2% during the first quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 118 shares during the period. Stephens Inc. AR raised its position in shares of Semtech by 3.3% during the 4th quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company’s stock valued at $325,000 after buying an additional 142 shares during the period. ABS Investment Management LLC purchased a new stake in shares of Semtech during the 2nd quarter valued at approximately $178,035,000. Captrust Financial Advisors lifted its holdings in Semtech by 0.8% in the fourth quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company’s stock valued at $1,422,000 after acquiring an additional 162 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Semtech by 1.5% in the fourth quarter. Cetera Investment Advisers now owns 11,737 shares of the semiconductor company’s stock valued at $865,000 after acquiring an additional 177 shares during the last quarter.

Semtech Trading Up 1.2%

SMTC opened at $135.40 on Friday. The business has a fifty day moving average price of $132.59 and a 200 day moving average price of $120.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31. Semtech Corporation has a 12 month low of $57.46 and a 12 month high of $177.35. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of 89.67 and a beta of 2.35.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.10. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The business had revenue of $341.87 million during the quarter, compared to analysts’ expectations of $328.67 million. During the same quarter last year, the business posted $0.41 EPS. The business’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. Sell-side analysts expect that Semtech Corporation will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Hong Q. Hou sold 2,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $133.00, for a total value of $266,000.00. Following the transaction, the chief executive officer owned 64,799 shares of the company’s stock, valued at $8,618,267. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul V. Walsh, Jr. sold 500 shares of Semtech 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 of the company’s stock, valued at $4,636,219. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 19,734 shares of company stock worth $2,809,786. Corporate insiders own 0.44% of the company’s stock.

Analyst Upgrades and Downgrades

SMTC has been the topic of a number of research analyst reports. Craig Hallum lifted their target price on Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Morgan Stanley raised their price objective on Semtech from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 26th. Mizuho set a $225.00 price objective on shares of Semtech in a report on Wednesday, May 27th. Roth Capital set a $220.00 target price on shares of Semtech in a research report on Wednesday, August 26th. Finally, Benchmark reiterated a “buy” rating on shares of Semtech in a research report on Thursday, August 20th. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.71.

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.