Semtech Corporation $SMTC Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in Semtech Corporation (NASDAQ:SMTC) by 7.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,582 shares of the semiconductor company’s stock after selling 5,720 shares during the period. New York State Teachers Retirement System’s holdings in Semtech were worth $5,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sierra Summit Advisors LLC acquired a new position in shares of Semtech in the first quarter valued at about $459,000. Leonteq Securities AG lifted its holdings in shares of Semtech by 11.2% during the first quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 118 shares during the period. Strs Ohio boosted its position in Semtech by 5.0% in the first quarter. Strs Ohio now owns 50,500 shares of the semiconductor company’s stock valued at $3,883,000 after buying an additional 2,400 shares during the last quarter. Keybank National Association OH boosted its position in Semtech by 14.1% in the first quarter. Keybank National Association OH now owns 8,778 shares of the semiconductor company’s stock valued at $675,000 after buying an additional 1,082 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its holdings in Semtech by 19.9% in the 1st quarter. CHICAGO TRUST Co NA now owns 3,868 shares of the semiconductor company’s stock worth $297,000 after buying an additional 641 shares during the period.

Insider Buying and Selling at Semtech

In other news, Director Martin Burvill sold 2,500 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $88.98, for a total transaction of $222,450.00. Following the sale, the director directly owned 4,409 shares of the company’s stock, valued at $392,312.82. This represents a 36.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Michael Wilson sold 5,500 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $170.00, for a total value of $935,000.00. Following the sale, the insider owned 80,876 shares in the company, valued at $13,748,920. This trade represents a 6.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 14,470 shares of company stock worth $2,012,333. 0.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SMTC has been the subject of several research reports. Craig Hallum lifted their price objective on shares of Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. TD Cowen increased their price objective on shares of Semtech from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Benchmark boosted their target price on shares of Semtech from $120.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Stifel Nicolaus upped their price target on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Roth Capital increased their price target on Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.07.

Semtech Price Performance

NASDAQ:SMTC opened at $126.40 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of -324.10 and a beta of 2.31. The company has a 50 day moving average price of $145.68 and a 200-day moving average price of $105.43. Semtech Corporation has a 1-year low of $42.71 and a 1-year high of $177.35.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results 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. The firm had revenue of $291.02 million for 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%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities research analysts forecast that Semtech Corporation will post 1.81 EPS for the current year.

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.