Handelsbanken Fonder AB Purchases 5,400 Shares of Semtech Corporation $SMTC

Handelsbanken Fonder AB raised its position in Semtech Corporation (NASDAQ:SMTC) by 20.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 31,988 shares of the semiconductor company’s stock after purchasing an additional 5,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Semtech were worth $5,177,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SMTC. Vanguard Group Inc. increased its stake in shares of Semtech by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 11,858,352 shares of the semiconductor company’s stock valued at $873,842,000 after buying an additional 298,987 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Semtech by 10.3% during the 2nd 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 in the last quarter. State Street Corp grew its holdings in Semtech by 1.5% during the 2nd quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after acquiring an additional 60,788 shares during the last quarter. Whale Rock Capital Management LLC increased its position in Semtech by 11.3% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,901,469 shares of the semiconductor company’s stock valued at $287,499,000 after acquiring an additional 396,504 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Semtech by 9.8% in the 2nd quarter. Alliancebernstein L.P. now owns 3,318,384 shares of the semiconductor company’s stock valued at $149,792,000 after acquiring an additional 294,990 shares in the last quarter.

Semtech Stock Performance

SMTC stock opened at $140.35 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. Semtech Corporation has a twelve month low of $46.02 and a twelve month high of $177.35. The business’s fifty day moving average is $140.61 and its 200-day moving average is $115.63. The company has a market cap of $13.07 billion, a P/E ratio of -359.87 and a beta of 2.35.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results 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 company had revenue of $291.02 million during the quarter, compared to analysts’ expectations of $283.53 million. During the same period in the prior year, the business posted $0.38 EPS. Semtech’s revenue was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities research analysts forecast that Semtech Corporation will post 1.81 EPS for the current year.

Insider Buying and Selling

In other news, EVP Jason Elliot Green sold 2,264 shares of Semtech stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total transaction of $294,093.60. Following the transaction, the executive vice president directly owned 8,611 shares of the company’s stock, valued at $1,118,568.90. This trade represents a 20.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 96,862 shares of the company’s stock, valued at $12,378,963.60. This trade represents a 8.07% 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. In the last quarter, insiders sold 22,234 shares of company stock valued at $3,203,091. 0.44% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Craig Hallum raised 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. Zacks Research raised Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Mizuho set a $225.00 price objective on Semtech in a research report on Wednesday, May 27th. Citigroup cut Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Semtech in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Semtech presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.07.

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.