Legal & General Group Plc Sells 11,118 Shares of Semtech Corporation $SMTC

Legal & General Group Plc reduced its position in Semtech Corporation (NASDAQ:SMTC) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 216,333 shares of the semiconductor company’s stock after selling 11,118 shares during the period. Legal & General Group Plc’s holdings in Semtech were worth $15,942,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SMTC. New York State Common Retirement Fund lifted its holdings in shares of Semtech by 55.7% in the third quarter. New York State Common Retirement Fund now owns 277,661 shares of the semiconductor company’s stock worth $19,839,000 after buying an additional 99,335 shares in the last quarter. Argos Wealth Advisors LLC purchased a new position in shares of Semtech in the fourth quarter worth $640,000. Hodges Capital Management Inc. purchased a new position in shares of Semtech in the third quarter worth $4,624,000. Atreides Management LP lifted its holdings in shares of Semtech by 2.4% in the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company’s stock worth $48,453,000 after buying an additional 16,192 shares in the last quarter. Finally, GW&K Investment Management LLC purchased a new position in shares of Semtech in the third quarter worth $27,125,000.

Semtech Price Performance

Semtech stock opened at $149.58 on Tuesday. The company has a market cap of $13.93 billion, a price-to-earnings ratio of -383.54 and a beta of 2.32. The firm’s fifty day moving average is $110.16 and its 200 day moving average is $89.95. The company has a quick ratio of 1.62, a current ratio of 2.37 and a debt-to-equity ratio of 0.86. Semtech Corporation has a 52-week low of $36.10 and a 52-week high of $172.35.

Semtech (NASDAQ:SMTC) last announced its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The business had revenue of $291.00 million for the quarter, compared to the consensus estimate of $283.53 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Sell-side analysts forecast that Semtech Corporation will post 1.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. TD Cowen reissued a “buy” rating on shares of Semtech in a report on Tuesday, February 24th. Northland Securities downgraded shares of Semtech from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Citigroup downgraded shares of Semtech from a “buy” rating to a “market perform” rating in a report on Tuesday, May 26th. B. Riley Financial boosted their target price on shares of Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, UBS Group boosted their target price on shares of Semtech from $165.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and an average price target of $179.73.

Insiders Place Their Bets

In other news, Director Paul V. Walsh, Jr. sold 500 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $138.21, for a total value of $69,105.00. Following the sale, the director owned 23,279 shares of the company’s stock, valued at approximately $3,217,390.59. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 7,500 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $81.73, for a total transaction of $612,975.00. Following the completion of the sale, the executive vice president directly owned 8,811 shares in the company, valued at approximately $720,123.03. This represents a 45.98% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 36,884 shares of company stock valued at $3,069,245. 0.48% of the stock is currently owned by company insiders.

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.