Cinctive Capital Management LP Takes $6.96 Million Position in Semtech Corporation $SMTC

Cinctive Capital Management LP purchased a new stake in shares of Semtech Corporation (NASDAQ:SMTC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 94,424 shares of the semiconductor company’s stock, valued at approximately $6,958,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Evergreen Capital Management LLC grew its holdings in shares of Semtech by 2.3% during the 4th quarter. Evergreen Capital Management LLC now owns 5,945 shares of the semiconductor company’s stock valued at $438,000 after acquiring an additional 136 shares in the last quarter. Stephens Inc. AR lifted its stake in shares of Semtech by 3.3% in the 4th quarter. Stephens Inc. AR now owns 4,410 shares of the semiconductor company’s stock valued at $325,000 after purchasing an additional 142 shares during the last quarter. Journey Strategic Wealth LLC lifted its stake in shares of Semtech by 3.2% in the 3rd quarter. Journey Strategic Wealth LLC now owns 5,074 shares of the semiconductor company’s stock valued at $363,000 after purchasing an additional 159 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Semtech by 0.8% in the 4th quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company’s stock valued at $1,422,000 after purchasing an additional 162 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Semtech by 1.5% in the 4th quarter. Cetera Investment Advisers now owns 11,737 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 177 shares during the last quarter.

Analyst Ratings Changes

SMTC has been the subject of several analyst reports. Mizuho set a $225.00 price objective on shares of Semtech in a research note on Wednesday, May 27th. UBS Group lifted their price objective on shares of Semtech from $165.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Benchmark lifted their price objective on shares of Semtech from $120.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Morgan Stanley lifted their price objective on shares of Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Finally, B. Riley Financial lifted their price objective on shares of Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Thirteen 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.73.

Insider Activity

In other Semtech news, EVP Jason Elliot Green sold 7,500 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $81.73, for a total transaction of $612,975.00. Following the completion of the transaction, the executive vice president owned 8,811 shares of the company’s stock, valued at $720,123.03. The trade was a 45.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul V. Walsh, Jr. sold 500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total transaction of $69,105.00. Following the transaction, the director owned 23,279 shares in the company, valued at approximately $3,217,390.59. The trade was a 2.10% 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. Over the last 90 days, insiders have sold 25,160 shares of company stock worth $2,227,705. Insiders own 0.48% of the company’s stock.

Semtech Stock Down 7.0%

Semtech stock opened at $150.20 on Thursday. The firm has a market cap of $13.99 billion, a price-to-earnings ratio of -385.13 and a beta of 2.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. Semtech Corporation has a fifty-two week low of $40.24 and a fifty-two week high of $177.35. The firm has a fifty day moving average price of $130.31 and a two-hundred day moving average price of $97.88.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. 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 earnings per share for the current year.

Semtech Company Profile

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.