Granahan Investment Management LLC Sells 223,265 Shares of Semtech Corporation $SMTC

Granahan Investment Management LLC decreased its stake in Semtech Corporation (NASDAQ:SMTC) by 34.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,227 shares of the semiconductor company’s stock after selling 223,265 shares during the period. Semtech accounts for approximately 1.3% of Granahan Investment Management LLC’s holdings, making the stock its 25th largest position. Granahan Investment Management LLC owned approximately 0.45% of Semtech worth $30,819,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Argos Wealth Advisors LLC bought a new position in shares of Semtech in the 4th quarter valued at about $640,000. Royce & Associates LP grew its holdings in Semtech by 144.5% during the fourth quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock worth $7,930,000 after purchasing an additional 63,603 shares during the period. GW&K Investment Management LLC bought a new position in Semtech during the third quarter worth about $27,125,000. Atreides Management LP grew its holdings in Semtech by 2.4% during the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company’s stock worth $48,453,000 after purchasing an additional 16,192 shares during the period. Finally, Hodges Capital Management Inc. bought a new position in Semtech during the third quarter worth about $4,624,000.

Semtech Trading Down 7.3%

Shares of NASDAQ:SMTC opened at $161.59 on Wednesday. Semtech Corporation has a 12-month low of $39.97 and a 12-month high of $177.35. The stock has a market cap of $15.05 billion, a PE ratio of -414.33 and a beta of 2.32. The business has a 50 day moving average of $128.96 and a 200-day moving average of $97.34. 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 (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company posted $0.38 earnings per share. The business’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. As a group, equities research analysts forecast that Semtech Corporation will post 1.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SMTC. Weiss Ratings cut Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, March 24th. Mizuho set a $225.00 price target on Semtech in a report on Wednesday, May 27th. Morgan Stanley lifted their price target on Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Craig Hallum lifted their price target on Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Citigroup cut Semtech from a “buy” rating to a “market perform” rating in a report on Tuesday, May 26th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Semtech has a consensus rating of “Moderate Buy” and a consensus price target of $179.73.

Insider Activity at Semtech

In other news, CEO Hong Q. Hou sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $162.10, for a total transaction of $324,200.00. Following the completion of the sale, the chief executive officer owned 69,228 shares in the company, valued at $11,221,858.80. The trade was a 2.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.73, for a total value of $612,975.00. Following the sale, the executive vice president owned 8,811 shares of the company’s stock, valued at approximately $720,123.03. This represents a 45.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 25,160 shares of company stock valued at $2,227,705. Insiders own 0.48% of the company’s stock.

Semtech 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.