Semtech Corporation $SMTC Shares Bought by California State Teachers Retirement System

by · The Markets Daily

California State Teachers Retirement System lifted its stake in shares of Semtech Corporation (NASDAQ:SMTC – Free Report) by 24.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 102,818 shares of the semiconductor company’s stock after purchasing an additional 20,408 shares during the quarter. California State Teachers Retirement System’s holdings in Semtech were worth $7,906,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SMTC. Quantinno Capital Management LP lifted its position in shares of Semtech by 53.1% during the 1st quarter. Quantinno Capital Management LP now owns 14,342 shares of the semiconductor company’s stock valued at $1,103,000 after acquiring an additional 4,973 shares during the period. Castleark Management LLC raised its holdings in Semtech by 4.7% during the first quarter. Castleark Management LLC now owns 107,758 shares of the semiconductor company’s stock worth $8,286,000 after purchasing an additional 4,800 shares during the last quarter. ABS Direct Equity Fund LLC purchased a new stake in Semtech during the first quarter worth $85,000. Caxton Associates LLP grew its holdings in Semtech by 91.3% in the first quarter. Caxton Associates LLP now owns 13,233 shares of the semiconductor company’s stock valued at $1,017,000 after purchasing an additional 6,315 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of 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 buying an additional 142,197 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SMTC shares. UBS Group lifted their price target on Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Craig Hallum raised their target price on shares of Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Citigroup cut shares of Semtech from a “buy” rating to a “market perform” rating in a research report on Tuesday, May 26th. B. Riley Financial increased their price target on shares of Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley raised their price objective on shares of Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $189.07.

Get Our Latest Stock Report on Semtech

Insider Activity

In other Semtech news, COO Asaf Silberstein sold 8,500 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the transaction, the chief operating officer owned 96,862 shares of the company’s stock, valued at $12,378,963.60. This trade represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of Semtech stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total transaction of $145,897.70. Following the completion of the transaction, the chief financial officer owned 34,896 shares in the company, valued at approximately $5,248,707.36. This trade represents a 2.70% decrease in their position. 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. Insiders have sold a total of 22,234 shares of company stock valued at $3,203,091 in the last ninety days. 0.44% of the stock is owned by company insiders.

Semtech Trading Up 8.5%

Shares of SMTC opened at $129.16 on Wednesday. Semtech Corporation has a fifty-two week low of $46.02 and a fifty-two week high of $177.35. The company has a market capitalization of $12.03 billion, a PE ratio of -331.18 and a beta of 2.35. The stock has a fifty day moving average of $144.70 and a two-hundred day moving average of $112.77. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37.

Semtech (NASDAQ:SMTC – Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating 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 business had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The business’s revenue for the quarter 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 forecast that Semtech Corporation will post 1.81 EPS for the current year.

Semtech Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding SMTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Semtech Corporation (NASDAQ:SMTC – Free Report).