Mirae Asset Global Investments Co. Ltd. Makes New Investment in Semtech Corporation $SMTC

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Semtech Corporation (NASDAQ:SMTC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,308 shares of the semiconductor company’s stock, valued at approximately $1,303,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SMTC. Vise Technologies Inc. increased its holdings in Semtech by 20.7% in the third quarter. Vise Technologies Inc. now owns 6,060 shares of the semiconductor company’s stock valued at $1,081,000 after buying an additional 1,039 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Semtech by 41.9% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 30,139 shares of the semiconductor company’s stock worth $5,375,000 after acquiring an additional 8,900 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Semtech during the 3rd quarter worth about $270,000. North Dakota State Investment Board grew its position in shares of Semtech by 3.8% during the 3rd quarter. North Dakota State Investment Board now owns 2,838 shares of the semiconductor company’s stock valued at $506,000 after acquiring an additional 105 shares during the period. Finally, Moody Aldrich Partners LLC acquired a new stake in shares of Semtech during the 3rd quarter valued at about $225,000.

Semtech Stock Up 12.7%

Shares of NASDAQ SMTC opened at $103.21 on Friday. The company’s 50-day simple moving average is $155.15 and its 200-day simple moving average is $125.55. Semtech Corporation has a 52-week low of $60.28 and a 52-week high of $201.99. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 68.35 and a beta of 2.50. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.10. The business had revenue of $341.87 million during the quarter, compared to analysts’ expectations of $328.67 million. Semtech had a net margin of 13.11% and a return on equity of 21.74%. The company’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Equities analysts predict that Semtech Corporation will post 2.80 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SMTC. Roth Capital set a $220.00 price target on Semtech in a research note on Wednesday, August 26th. Morgan Stanley set a $205.00 price target on Semtech in a research report on Friday, October 16th. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price objective on shares of Semtech in a report on Wednesday, August 26th. TD Cowen restated a “buy” rating and issued a $215.00 price objective on shares of Semtech in a research report on Friday, October 16th. Finally, Northland Securities raised Semtech from a “market perform” rating to an “outperform” rating and set a $186.00 target price for the company in a research note on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and an average price target of $213.11.

Insider Activity at Semtech

In other Semtech news, Director Paul Walsh, Jr. sold 500 shares of the business’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 sale, the director directly owned 26,100 shares in the company, valued at approximately $3,639,384. The trade was a 1.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Lin sold 967 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $178.87, for a total value of $172,967.29. Following the transaction, the chief financial officer directly owned 35,999 shares of the company’s stock, valued at $6,439,141.13. The trade was a 2.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,237 shares of company stock worth $2,337,597 in the last quarter. Corporate insiders own 0.44% of the company’s stock.

About Semtech

Semtech Corporation is a semiconductor and connectivity technology company that develops products for communications, industrial, and consumer applications. Its portfolio includes analog and mixed-signal semiconductors, signal-integrity and protection products, and power-management solutions used in electronic systems.

The company is known for LoRa technology, which supports low-power, long-range wireless communications for Internet of Things (IoT) devices. Semtech also provides cellular IoT modules, routers, and related services, expanding its connectivity offerings through its acquisition of Sierra Wireless in 2023.

Founded in 1960, Semtech serves customers around the world through its international operations and sales network.