SummitTX Capital L.P. Has $3.25 Million Stock Holdings in Semtech Corporation $SMTC

SummitTX Capital L.P. decreased its position in shares of Semtech Corporation (NASDAQ:SMTC) by 66.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,218 shares of the semiconductor company’s stock after selling 82,506 shares during the period. SummitTX Capital L.P.’s holdings in Semtech were worth $3,246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SMTC. Castleark Management LLC raised its stake in Semtech by 4.7% in the 1st quarter. Castleark Management LLC now owns 107,758 shares of the semiconductor company’s stock worth $8,286,000 after purchasing an additional 4,800 shares in the last quarter. ABS Direct Equity Fund LLC bought a new position in shares of Semtech during the first quarter worth approximately $85,000. Caxton Associates LLP increased its holdings in shares of Semtech by 91.3% during the first quarter. Caxton Associates LLP now owns 13,233 shares of the semiconductor company’s stock worth $1,017,000 after purchasing an additional 6,315 shares during the period. Sei Investments Co. raised its position in shares of Semtech by 65.9% in the first quarter. Sei Investments Co. now owns 357,875 shares of the semiconductor company’s stock valued at $27,517,000 after buying an additional 142,197 shares in the last quarter. Finally, Icon Advisers Inc. Co. acquired a new stake in shares of Semtech in the first quarter valued at approximately $1,538,000.

Insider Transactions at Semtech

In other Semtech news, Director Paul V. Walsh, Jr. sold 500 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $164.99, for a total transaction of $82,495.00. Following the sale, the director owned 28,100 shares of the company’s stock, valued at approximately $4,636,219. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a 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, CEO Hong Q. Hou sold 2,000 shares of the company’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $133.00, for a total transaction of $266,000.00. Following the transaction, the chief executive officer owned 64,799 shares of the company’s stock, valued at $8,618,267. This trade represents a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 22,234 shares of company stock valued at $3,203,091. Corporate insiders own 0.44% of the company’s stock.

Semtech Stock Down 8.4%

Shares of NASDAQ SMTC opened at $111.30 on Wednesday. The company has a market cap of $10.37 billion, a price-to-earnings ratio of -285.38 and a beta of 2.31. The company has a current ratio of 2.37, a quick ratio of 1.62 and a debt-to-equity ratio of 0.86. Semtech Corporation has a 12 month low of $46.02 and a 12 month high of $177.35. The stock has a 50-day moving average price of $148.34 and a two-hundred day moving average price of $111.33.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The company 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 last year, the company posted $0.38 EPS. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, analysts forecast that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SMTC has been the topic of a number of analyst reports. B. Riley Financial increased their price target on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Needham & Company LLC restated a “buy” rating and issued a $200.00 price target on shares of Semtech in a research report on Monday, July 13th. Stifel Nicolaus upped their price objective on shares of Semtech from $157.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Roth Capital increased their price objective on shares of Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, UBS Group upped their price target on shares of Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $189.07.

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.