Lisanti Capital Growth LLC Invests $5.44 Million in Semtech Corporation $SMTC

Lisanti Capital Growth LLC bought a new position in shares of Semtech Corporation (NASDAQ:SMTC) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 33,630 shares of the semiconductor company’s stock, valued at approximately $5,443,000.

Other institutional investors also recently bought and sold shares of the company. Royce & Associates LP lifted its stake in shares of 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 in the last quarter. Argos Wealth Advisors LLC purchased a new position in shares of Semtech during the 4th quarter valued at approximately $640,000. Geode Capital Management LLC grew its holdings in Semtech by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock worth $154,704,000 after acquiring an additional 6,715 shares in the last quarter. Strs Ohio raised its stake in shares of Semtech by 558.9% in the 4th quarter. Strs Ohio now owns 48,100 shares of the semiconductor company’s stock valued at $3,544,000 after purchasing an additional 40,800 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Semtech by 6.9% during the first quarter. Swiss National Bank now owns 183,000 shares of the semiconductor company’s stock worth $14,071,000 after purchasing an additional 11,800 shares during the last quarter.

Insider Activity at Semtech

In other news, CEO Hong Q. Hou sold 2,000 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $133.00, for a total transaction of $266,000.00. Following the completion of the transaction, the chief executive officer owned 64,799 shares of the company’s stock, valued at approximately $8,618,267. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, COO Asaf Silberstein sold 8,500 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the transaction, the chief operating officer owned 96,862 shares of the company’s stock, valued at $12,378,963.60. This represents a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 21,734 shares of company stock valued at $3,133,986. Company insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on SMTC shares. TD Cowen lifted their price target on Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 target price on shares of Semtech in a report on Friday, August 14th. Susquehanna lifted their target price on Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, May 27th. Northland Securities downgraded Semtech from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Finally, Citigroup cut shares of Semtech from a “buy” rating to a “market perform” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Semtech has a consensus rating of “Moderate Buy” and an average target price of $189.07.

Semtech Trading Down 7.3%

Shares of NASDAQ SMTC opened at $125.36 on Thursday. Semtech Corporation has a 12-month low of $46.02 and a 12-month high of $177.35. The company has a market cap of $11.68 billion, a price-to-earnings ratio of -321.44 and a beta of 2.35. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. The stock’s 50 day simple moving average is $139.50 and its 200 day simple moving average is $117.09.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 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 firm had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. During the same period in the prior year, the business earned $0.38 EPS. The firm’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. Equities research analysts expect that Semtech Corporation will post 1.81 EPS 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.