Fifth Third Bancorp Purchases 22,044 Shares of Semtech Corporation $SMTC

Fifth Third Bancorp grew its position in Semtech Corporation (NASDAQ:SMTC) by 2,380.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,970 shares of the semiconductor company’s stock after purchasing an additional 22,044 shares during the quarter. Fifth Third Bancorp’s holdings in Semtech were worth $1,766,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in Semtech in the 1st quarter valued at $33,000. IFP Advisors Inc bought a new position in Semtech during the 4th quarter worth $53,000. Sound Income Strategies LLC bought a new position in Semtech during the 4th quarter worth $60,000. NewEdge Advisors LLC lifted its holdings in shares of Semtech by 1,215.4% during the third quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock worth $61,000 after buying an additional 790 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Semtech by 90.0% in the fourth quarter. Hantz Financial Services Inc. now owns 965 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 457 shares during the period.

Insiders Place Their Bets

In other Semtech news, CEO Hong Q. Hou sold 2,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 64,799 shares of the company’s stock, valued at approximately $8,618,267. This trade represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 970 shares of Semtech stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total value of $145,897.70. Following the completion of the transaction, the chief financial officer owned 34,896 shares in the company, valued at approximately $5,248,707.36. The trade was a 2.70% 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. Insiders sold a total of 22,234 shares of company stock valued at $3,203,091 over the last three months. 0.44% of the stock is owned by corporate insiders.

Semtech Trading Down 0.7%

SMTC opened at $136.93 on Thursday. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of -351.10 and a beta of 2.31. 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 company has a 50-day simple moving average of $149.32 and a 200 day simple moving average of $109.97.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Susquehanna upped their price target 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. Mizuho set a $225.00 price objective on shares of Semtech in a report on Wednesday, May 27th. Oppenheimer set a $200.00 target price on shares of Semtech in a research report on Wednesday, May 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 target price on shares of Semtech in a report on Monday, July 13th. Finally, Benchmark lifted their price target on shares of Semtech from $120.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.