Virtus Advisers LLC Makes New Investment in Semtech Corporation $SMTC

Virtus Advisers LLC purchased a new stake in shares of Semtech Corporation (NASDAQ:SMTC) in the 2nd quarter, HoldingsChannel reports. The firm purchased 4,413 shares of the semiconductor company’s stock, valued at approximately $714,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royce & Associates LP increased its position in shares of Semtech by 144.5% in the fourth quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock valued at $7,930,000 after acquiring an additional 63,603 shares during the period. Argos Wealth Advisors LLC purchased a new stake in shares of Semtech during the fourth quarter worth about $640,000. Geode Capital Management LLC boosted its holdings in shares of Semtech by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,099,033 shares of the semiconductor company’s stock worth $154,704,000 after purchasing an additional 6,715 shares during the period. Strs Ohio grew its stake in shares of Semtech by 558.9% in the fourth quarter. Strs Ohio now owns 48,100 shares of the semiconductor company’s stock worth $3,544,000 after purchasing an additional 40,800 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Semtech by 6.9% in 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 during the last quarter.

Analyst Ratings Changes

A number of research analysts have commented on the company. Benchmark reaffirmed a “buy” rating on shares of Semtech in a research report on Thursday. Craig Hallum raised their target price on Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Mizuho set a $225.00 price target on Semtech in a research note on Wednesday, May 27th. B. Riley Financial increased their price objective on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Semtech in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $189.47.

Semtech Price Performance

SMTC stock opened at $124.88 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. The firm has a 50 day moving average price of $138.72 and a 200-day moving average price of $117.40. Semtech Corporation has a 52-week low of $47.50 and a 52-week high of $177.35. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of -320.21 and a beta of 2.35.

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, topping the consensus estimate of $0.45 by $0.06. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The company had revenue of $291.02 million for the quarter, compared to the consensus estimate of $283.53 million. During the same quarter in the prior year, the business posted $0.38 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities research analysts forecast that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Jason Elliot Green sold 2,264 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $129.90, for a total transaction of $294,093.60. Following the sale, the executive vice president directly owned 8,611 shares of the company’s stock, valued at approximately $1,118,568.90. This represents a 20.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Asaf Silberstein sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $127.80, for a total transaction of $1,086,300.00. Following the sale, the chief operating officer owned 96,862 shares of the company’s stock, valued at approximately $12,378,963.60. This represents a 8.07% 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. In the last ninety days, insiders sold 21,734 shares of company stock valued at $3,133,986. Company insiders own 0.44% of the company’s stock.

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.