Heartland Advisors Inc. Has $4.33 Million Stock Holdings in Semtech Corporation $SMTC

Heartland Advisors Inc. decreased its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 12.6% during the 1st quarter, Holdings Channel reports. The firm owned 56,253 shares of the semiconductor company’s stock after selling 8,079 shares during the quarter. Heartland Advisors Inc.’s holdings in Semtech were worth $4,325,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in Semtech in the first quarter valued at approximately $33,000. IFP Advisors Inc acquired a new stake in shares of Semtech during the 4th quarter worth approximately $53,000. Smartleaf Asset Management LLC grew its position in shares of Semtech by 24.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock worth $57,000 after buying an additional 247 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Semtech during the 4th quarter worth approximately $60,000. Finally, NewEdge Advisors LLC increased its stake in shares of Semtech by 1,215.4% in the 3rd quarter. NewEdge Advisors LLC now owns 855 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 790 shares in the last quarter.

Semtech Price Performance

Shares of SMTC opened at $124.96 on Monday. Semtech Corporation has a 12-month low of $46.02 and a 12-month high of $177.35. The business’s fifty day moving average is $149.47 and its 200 day moving average is $108.71. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. The stock has a market cap of $11.64 billion, a P/E ratio of -320.41 and a beta of 2.31.

Semtech (NASDAQ:SMTC) last posted its quarterly 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. The business had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. Semtech’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Sell-side analysts anticipate that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Semtech from $155.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Stifel Nicolaus lifted their price target on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. B. Riley Financial upped their price objective on shares of Semtech from $165.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Zacks Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Finally, Citigroup downgraded Semtech from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $189.07.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 970 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $150.41, for a total value of $145,897.70. Following the sale, the chief financial officer owned 34,896 shares in the company, valued at $5,248,707.36. This represents a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the completion of the transaction, the chief operating officer directly owned 96,862 shares in the company, valued at approximately $12,378,963.60. The trade was a 8.07% 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. In the last three months, insiders sold 22,734 shares of company stock valued at $3,256,056. Corporate insiders own 0.48% of the company’s stock.

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.