21,904 Semtech Corporation $SMTC Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its stake in shares of Semtech Corporation (NASDAQ:SMTC) by 21.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,360 shares of the semiconductor company’s stock after purchasing an additional 21,904 shares during the period. Retirement Systems of Alabama owned 0.13% of Semtech worth $22,001,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in Semtech by 19.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 359,771 shares of the semiconductor company’s stock valued at $67,130,000 after purchasing an additional 57,964 shares during the period. Candriam S.C.A. raised its stake in shares of Semtech by 12.4% in the third quarter. Candriam S.C.A. now owns 109,215 shares of the semiconductor company’s stock valued at $19,550,000 after buying an additional 12,075 shares during the period. Ethic Inc. raised its stake in shares of Semtech by 191.5% in the third quarter. Ethic Inc. now owns 7,970 shares of the semiconductor company’s stock valued at $1,421,000 after buying an additional 5,236 shares during the period. Summit Creek Advisors LLC raised its stake in shares of Semtech by 84.9% in the third quarter. Summit Creek Advisors LLC now owns 40,396 shares of the semiconductor company’s stock valued at $7,205,000 after buying an additional 18,552 shares during the period. Finally, Kestra Advisory Services LLC lifted its position in shares of Semtech by 53.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 4,328 shares of the semiconductor company’s stock valued at $772,000 after buying an additional 1,514 shares during the last quarter.

Semtech Price Performance

Semtech stock opened at $125.22 on Thursday. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 82.93 and a beta of 2.50. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47. The business has a 50-day simple moving average of $154.33 and a 200 day simple moving average of $126.12. Semtech Corporation has a 52 week low of $60.28 and a 52 week high of $201.99.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share 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 analysts’ expectations of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%. The company’s revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. On average, research analysts forecast that Semtech Corporation will post 2.80 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SMTC has been the subject of several research reports. Benchmark reiterated a “buy” rating on shares of Semtech in a research note on Thursday, August 20th. B. Riley Financial lowered their price objective on Semtech from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday. Zacks Research upgraded Semtech from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 21st. TD Cowen reaffirmed a “buy” rating and set a $215.00 price objective on shares of Semtech in a report on Friday, October 16th. Finally, New Street Research set a $230.00 price objective on shares of Semtech in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.00.

Insider Buying and Selling

In related news, EVP Jason Elliot Green sold 2,766 shares of the firm’s stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $190.35, for a total value of $526,508.10. Following the sale, the executive vice president directly owned 7,367 shares of the company’s stock, valued at $1,402,308.45. This trade represents a 27.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Hou sold 2,000 shares of Semtech stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $138.71, for a total transaction of $277,420.00. Following the sale, the chief executive officer owned 60,799 shares of the company’s stock, valued at approximately $8,433,429.29. The trade was a 3.18% 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 14,237 shares of company stock valued at $2,337,597 in the last 90 days. 0.44% of the stock is owned by company insiders.

Semtech Profile

Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems. The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.