Sterling Capital Management LLC Sells 10,569 Shares of Semtech Corporation $SMTC

Sterling Capital Management LLC lowered its stake in Semtech Corporation (NASDAQ:SMTC) by 71.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,266 shares of the semiconductor company’s stock after selling 10,569 shares during the quarter. Sterling Capital Management LLC’s holdings in Semtech were worth $761,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in SMTC. Osterweis Capital Management Inc. acquired a new stake in shares of Semtech in the second quarter valued at about $9,783,000. Canada Pension Plan Investment Board purchased a new stake in shares of Semtech during the second quarter worth about $39,313,000. Swiss National Bank increased its stake 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 in the last quarter. Nicholas Investment Partners LP purchased a new stake in shares of Semtech during the second quarter worth about $13,673,000. Finally, Sei Investments Co. raised its position in shares of Semtech by 65.9% during the 1st quarter. Sei Investments Co. now owns 357,875 shares of the semiconductor company’s stock worth $27,517,000 after purchasing an additional 142,197 shares during the last quarter.

Insider Activity at Semtech

In other Semtech news, CEO Hong Hou sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $138.71, for a total value of $277,420.00. Following the transaction, the chief executive officer directly owned 60,799 shares of the company’s stock, valued at $8,433,429.29. This trade represents a 3.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Walsh, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $139.44, for a total transaction of $69,720.00. Following the completion of the transaction, the director directly owned 26,100 shares in the company, valued at $3,639,384. This trade represents a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,237 shares of company stock worth $2,337,597 in the last 90 days. 0.44% of the stock is owned by insiders.

Semtech Stock Up 5.6%

Shares of SMTC opened at $144.35 on Wednesday. Semtech Corporation has a 52-week low of $60.28 and a 52-week high of $201.99. The stock has a market cap of $13.47 billion, a PE ratio of 95.60 and a beta of 2.41. The firm’s fifty day moving average is $156.56 and its two-hundred day moving average is $123.75.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. The business had revenue of $341.87 million during the quarter, compared to analyst estimates of $328.67 million. Semtech’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. 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

SMTC has been the topic of a number of research reports. New Street Research set a $230.00 price target on shares of Semtech in a research note on Thursday, August 20th. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price objective on shares of Semtech in a report on Wednesday, August 26th. TD Cowen reiterated a “buy” rating and set a $215.00 price objective on shares of Semtech in a research note on Friday, October 16th. UBS Group increased 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. Finally, Stifel Nicolaus reduced their target price on Semtech from $220.00 to $200.00 and set a “buy” rating for the company in a report on Friday, October 16th. One investment 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, Semtech presently has an average rating of “Moderate Buy” and an average price target of $213.11.

Semtech Company 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.