Semtech Corporation $SMTC Stock Sold by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. lowered its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 32.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,000 shares of the semiconductor company’s stock after selling 12,000 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in Semtech were worth $4,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Andar Capital Management HK Ltd acquired a new stake in shares of Semtech during the 2nd quarter worth about $162,000,000. BlackRock Inc. purchased a new position in shares of Semtech during the second quarter valued at approximately $1,577,947,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Semtech by 396.3% during the second 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 during the last quarter. Atreides Management LP purchased a new stake in Semtech in the 2nd quarter worth approximately $89,214,000. Finally, Bank of New York Mellon Corp purchased a new stake in Semtech in the 2nd quarter worth approximately $87,725,000.

Insider Buying and Selling at Semtech

In related news, EVP Jason Elliot Green sold 2,766 shares of the business’s stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total transaction of $526,508.10. Following the transaction, the executive vice president directly owned 7,367 shares of the company’s stock, valued at approximately $1,402,308.45. The trade was a 27.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julie Ruehl sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $145.00, for a total value of $217,500.00. Following the completion of the transaction, the director owned 7,140 shares of the company’s stock, valued at approximately $1,035,300. This represents a 17.36% 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 have sold 14,237 shares of company stock worth $2,337,597. Corporate insiders own 0.44% of the company’s stock.

Semtech Price Performance

Shares of Semtech stock opened at $127.42 on Wednesday. Semtech Corporation has a twelve month low of $60.28 and a twelve month high of $201.99. The stock has a market capitalization of $11.89 billion, a P/E ratio of 84.38 and a beta of 2.50. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. The business’s fifty day moving average price is $157.25 and its 200 day moving average price is $125.18.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Roth Capital set a $220.00 price target on Semtech in a report on Wednesday, August 26th. Stifel Nicolaus lowered their price objective on Semtech from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, October 16th. Wall Street Zen upgraded Semtech from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Oppenheimer increased 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. Finally, Seaport Research Partners started coverage on Semtech in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $200.00 price target on the stock. 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 company. According to data from MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average target price of $213.11.

Semtech Profile

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and infrastructure technology company that develops analog and mixed-signal products for communications, industrial, data center, consumer, and automotive applications. Its portfolio is designed to improve connectivity, power efficiency, signal integrity, and protection in electronic systems.

The company’s products include high-speed connectivity solutions for data centers and communications networks, power management and protection devices, signal integrity components, and wireless and radio-frequency technologies.