Nykredit A S Acquires New Holdings in Semtech Corporation $SMTC

by · The Cerbat Gem

Nykredit A S bought a new position in Semtech Corporation (NASDAQ:SMTC – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,441 shares of the semiconductor company’s stock, valued at approximately $557,000.

A number of other large investors have also recently added to or reduced their stakes in SMTC. Andar Capital Management HK Ltd acquired a new position in Semtech during the second quarter valued at approximately $162,000,000. BlackRock Inc. bought a new position in shares of Semtech in the second quarter valued at approximately $1,577,947,000. Ameriprise Financial Inc. lifted its stake in shares of Semtech by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 7,112,097 shares of the semiconductor company’s stock worth $321,040,000 after buying an additional 666,456 shares during the last quarter. State Street Corp lifted its stake in shares of Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after buying an additional 60,788 shares during the last quarter. Finally, Whale Rock Capital Management LLC boosted its holdings in shares of Semtech by 11.3% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock worth $287,499,000 after buying an additional 396,504 shares during the period.

Semtech Price Performance

NASDAQ SMTC opened at $147.88 on Tuesday. Semtech Corporation has a twelve month low of $57.50 and a twelve month high of $177.35. The stock has a market cap of $13.80 billion, a PE ratio of 97.93 and a beta of 2.35. The firm has a 50-day simple moving average of $132.39 and a 200 day simple moving average of $121.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.31 and a current ratio of 1.70.

Semtech (NASDAQ:SMTC – Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $341.87 million for the quarter, compared to analyst estimates of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%.The company’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, research analysts forecast that Semtech Corporation will post 2.64 EPS for the current year.

Insider Buying and Selling at Semtech

In other news, Director Paul Walsh, Jr. sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $164.99, for a total transaction of $82,495.00. Following the sale, the director directly owned 28,100 shares in the company, valued at approximately $4,636,219. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total value of $1,086,300.00. Following the completion of the transaction, the chief operating officer directly owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. This trade represents a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,734 shares of company stock valued at $2,809,786 in the last quarter. 0.44% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SMTC shares. Stifel Nicolaus raised their target price on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Benchmark reissued a “buy” rating on shares of Semtech in a research report on Thursday, August 20th. Craig Hallum upped their price target on shares of Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Wall Street Zen raised Semtech from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Finally, Mizuho set a $225.00 price objective on Semtech in a research note on Wednesday, May 27th. Fifteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.71.

View Our Latest Stock Analysis on SMTC

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.

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