Machina Capital S.A.S. Purchases New Position in Semtech Corporation $SMTC

Machina Capital S.A.S. acquired a new position in shares of Semtech Corporation (NASDAQ:SMTC) during the third quarter, HoldingsChannel reports. The institutional investor acquired 6,566 shares of the semiconductor company’s stock, valued at approximately $1,171,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Semtech in the 2nd quarter valued at $1,577,947,000. ABS Investment Management LLC acquired a new stake in Semtech during the 2nd quarter worth $178,035,000. Andar Capital Management HK Ltd acquired a new stake in Semtech during the 2nd quarter worth $162,000,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Semtech by 396.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company’s stock worth $136,298,000 after acquiring an additional 672,447 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Semtech by 56.3% in the third quarter. Assenagon Asset Management S.A. now owns 546,422 shares of the semiconductor company’s stock valued at $97,454,000 after acquiring an additional 196,734 shares during the last quarter.

Semtech Stock Performance

Shares of Semtech stock opened at $119.44 on Friday. The firm’s fifty day simple moving average is $154.04 and its 200-day simple moving average is $126.31. The stock has a market capitalization of $11.15 billion, a price-to-earnings ratio of 79.10 and a beta of 2.50. Semtech Corporation has a 12 month low of $60.28 and a 12 month high of $201.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.70 and a quick ratio of 1.31.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.61 by $0.10. The firm had revenue of $341.87 million during the quarter, compared to the consensus estimate of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. Semtech’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. As a group, equities analysts forecast that Semtech Corporation will post 2.80 earnings per share for the current year.

Wall Street Analyst Weigh In

SMTC has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $200.00 price objective on shares of Semtech in a research note on Wednesday, August 26th. Oppenheimer lifted their target price on Semtech from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, October 1st. UBS Group boosted their target price on Semtech from $225.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. TD Cowen reissued a “buy” rating and issued a $215.00 target price on shares of Semtech in a research report on Friday, October 16th. Finally, DA Davidson set a $230.00 target price on Semtech in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.00.

Insider Buying and Selling

In other news, CFO Mark Lin sold 967 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $178.87, for a total transaction of $172,967.29. Following the completion of the sale, the chief financial officer owned 35,999 shares in the company, valued at approximately $6,439,141.13. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,766 shares of the firm’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total value of $526,508.10. Following the transaction, the executive vice president directly owned 7,367 shares in the company, valued at approximately $1,402,308.45. This represents a 27.30% 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. Insiders sold a total of 14,237 shares of company stock valued at $2,337,597 in the last quarter. Corporate insiders own 0.44% of the company’s stock.

About Semtech

Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems. The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.