Persistent Asset Partners Ltd Purchases Shares of 21,849 Semtech Corporation $SMTC

Persistent Asset Partners Ltd purchased a new position in shares of Semtech Corporation (NASDAQ:SMTC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,849 shares of the semiconductor company’s stock, valued at approximately $3,536,000. Semtech accounts for approximately 1.1% of Persistent Asset Partners Ltd’s investment portfolio, making the stock its 18th biggest holding.

Several other hedge funds have also made changes to their positions in SMTC. FNY Investment Advisers LLC increased its stake in Semtech by 900.0% in the second quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 180 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in Semtech in the 2nd quarter worth about $65,000. Banque Cantonale Vaudoise acquired a new stake in Semtech in the 1st quarter worth about $33,000. IFP Advisors Inc purchased a new stake in Semtech in the 4th quarter valued at about $53,000. Finally, Harbor Investment Advisory LLC purchased a new stake in Semtech in the 2nd quarter valued at about $127,000.

Semtech Stock Performance

Shares of SMTC opened at $140.35 on Monday. Semtech Corporation has a one year low of $46.02 and a one year high of $177.35. The stock has a 50-day moving average price of $140.61 and a 200 day moving average price of $115.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. The company has a market capitalization of $13.07 billion, a P/E ratio of -359.87 and a beta of 2.35.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. The company had revenue of $291.02 million for the quarter, compared to the consensus estimate of $283.53 million. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.Semtech’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Sell-side analysts forecast that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Insider Activity

In other Semtech news, EVP Jason Elliot Green sold 2,264 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total transaction of $294,093.60. Following the transaction, the executive vice president owned 8,611 shares of the company’s stock, valued at $1,118,568.90. This trade represents a 20.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hong Q. Hou sold 2,000 shares of Semtech stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 64,799 shares of the company’s stock, valued at approximately $8,618,267. The trade was a 2.99% decrease in their position. The SEC filing for this sale provides additional information. 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 over the last three months. Company insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SMTC shares. Craig Hallum upped their price objective on shares of Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. UBS Group boosted their target price on shares of Semtech from $165.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Stifel Nicolaus increased their price target on shares of Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Susquehanna boosted their price objective on shares of Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, May 27th. Finally, Citigroup downgraded Semtech from a “buy” rating to a “market perform” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.