Summit Creek Advisors LLC Purchases New Position in Semtech Corporation $SMTC

Summit Creek Advisors LLC bought a new stake in Semtech Corporation (NASDAQ:SMTC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 21,844 shares of the semiconductor company’s stock, valued at approximately $3,535,000.

Several other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in Semtech by 12,214.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock worth $89,000 after acquiring an additional 2,565 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Semtech by 11.5% in the first quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock worth $323,000 after acquiring an additional 968 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Semtech by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock worth $14,166,000 after acquiring an additional 22,629 shares during the last quarter. Strs Ohio acquired a new position in shares of Semtech during the first quarter worth approximately $65,000. Finally, Cetera Investment Advisers acquired a new position in shares of Semtech during the second quarter worth approximately $226,000.

Semtech Stock Down 12.3%

Semtech stock opened at $135.23 on Wednesday. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of -346.74 and a beta of 2.35. The company’s 50 day simple moving average is $140.08 and its 200 day simple moving average is $116.78. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. Semtech Corporation has a fifty-two week low of $46.02 and a fifty-two week high of $177.35.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. The firm had revenue of $291.02 million during 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 business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, sell-side analysts anticipate that Semtech Corporation will post 1.81 EPS for the current year.

Wall Street Analyst Weigh In

SMTC has been the topic of several recent research reports. UBS Group raised their price target on Semtech from $165.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Roth Capital upped their target price on shares of Semtech from $102.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Susquehanna raised their target price on shares of Semtech from $170.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, May 27th. Craig Hallum lifted their price target on shares of Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $200.00 price target on shares of Semtech in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average target price of $189.07.

Insider Activity

In other Semtech news, EVP Jason Elliot Green sold 2,264 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $129.90, for a total value of $294,093.60. Following the completion of the transaction, the executive vice president directly owned 8,611 shares of the company’s stock, valued at approximately $1,118,568.90. The trade was a 20.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 business’s stock in a transaction dated 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 in the company, valued at $8,618,267. This represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 21,734 shares of company stock valued at $3,133,986. Company insiders own 0.44% of the company’s stock.

Semtech 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.