GW&K Investment Management LLC Buys 32,939 Shares of Semtech Corporation $SMTC

GW&K Investment Management LLC increased its position in Semtech Corporation (NASDAQ:SMTC) by 8.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 412,569 shares of the semiconductor company’s stock after purchasing an additional 32,939 shares during the period. GW&K Investment Management LLC’s holdings in Semtech were worth $30,402,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 worth $873,842,000 after buying an additional 298,987 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Semtech by 3.7% in the third quarter. Ameriprise Financial Inc. now owns 7,373,744 shares of the semiconductor company’s stock worth $526,861,000 after buying an additional 261,647 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Semtech by 13.9% in the third quarter. Capital Research Global Investors now owns 4,691,676 shares of the semiconductor company’s stock worth $335,220,000 after buying an additional 571,372 shares in the last quarter. State Street Corp lifted its position in shares of Semtech by 1.5% in the second quarter. State Street Corp now owns 4,037,107 shares of the semiconductor company’s stock worth $182,235,000 after buying an additional 60,788 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Semtech by 8.7% in the third quarter. Alliancebernstein L.P. now owns 3,607,697 shares of the semiconductor company’s stock worth $257,770,000 after buying an additional 289,313 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SMTC. Stifel Nicolaus boosted their target price on Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Benchmark lifted their price objective on shares of Semtech from $120.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Craig Hallum lifted their price objective on shares of Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Mizuho set a $225.00 price objective on shares of Semtech in a research note on Wednesday, May 27th. Finally, Northland Securities cut shares of Semtech from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average target price of $179.73.

Insider Buying and Selling

In related news, Director Martin Burvill sold 2,500 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $88.98, for a total value of $222,450.00. Following the transaction, the director owned 4,409 shares of the company’s stock, valued at $392,312.82. This trade represents a 36.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Lin sold 9,186 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $75.05, for a total transaction of $689,409.30. Following the completion of the transaction, the chief financial officer directly owned 32,710 shares in the company, valued at $2,454,885.50. This represents a 21.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,660 shares of company stock worth $2,268,140 over the last ninety days. 0.48% of the stock is owned by insiders.

Semtech Stock Down 2.1%

Shares of NASDAQ:SMTC opened at $154.28 on Thursday. Semtech Corporation has a 1 year low of $39.07 and a 1 year high of $172.35. The business has a 50 day simple moving average of $122.08 and a two-hundred day simple moving average of $94.61. The firm has a market capitalization of $14.37 billion, a PE ratio of -395.59 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 (NASDAQ:SMTC) last announced its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. On average, equities analysts predict that Semtech Corporation will post 1.81 EPS for the current year.

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.