Semtech Corporation $SMTC Stock Acquired by Candriam S.C.A.

Candriam S.C.A. lifted its position in Semtech Corporation (NASDAQ:SMTC) by 12.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 109,215 shares of the semiconductor company’s stock after buying an additional 12,075 shares during the period. Candriam S.C.A.’s holdings in Semtech were worth $19,550,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board purchased a new stake in shares of Semtech during the 2nd quarter valued at about $39,313,000. Osterweis Capital Management Inc. bought a new stake in shares of Semtech in the second quarter worth approximately $9,783,000. 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 acquiring an additional 11,800 shares during the period. Nicholas Investment Partners LP bought a new stake in shares of Semtech in the second quarter worth approximately $13,673,000. Finally, Sei Investments Co. raised its holdings in shares of Semtech by 65.9% during the first quarter. Sei Investments Co. now owns 357,875 shares of the semiconductor company’s stock valued at $27,517,000 after purchasing an additional 142,197 shares during the last quarter.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $103.21 on Monday. The firm’s 50 day moving average price is $155.15 and its 200-day moving average price is $125.55. Semtech Corporation has a twelve month low of $60.28 and a twelve month high of $201.99. The company has a quick ratio of 1.31, a current ratio of 1.70 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $9.63 billion, a PE ratio of 68.35 and a beta of 2.50.

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

Insiders Place Their Bets

In other news, CFO Mark Lin sold 967 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $178.87, for a total value of $172,967.29. Following the completion of the sale, the chief financial officer directly owned 35,999 shares in the company, valued at $6,439,141.13. This represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Elliot Green sold 2,766 shares of the firm’s stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $190.35, for a total value of $526,508.10. Following the completion of the transaction, the executive vice president directly owned 7,367 shares in the company, valued at approximately $1,402,308.45. This represents a 27.30% 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 14,237 shares of company stock valued at $2,337,597. 0.44% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SMTC has been the topic of a number of research analyst reports. Roth Capital set a $220.00 price objective on shares of Semtech in a research report on Wednesday, August 26th. New Street Research set a $230.00 target price on shares of Semtech in a research note on Thursday, August 20th. Morgan Stanley set a $205.00 price target on Semtech in a report on Friday, October 16th. Needham & Company LLC restated a “buy” rating and issued a $200.00 price target on shares of Semtech in a research note on Wednesday, August 26th. Finally, Zacks Research raised Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. One equities research 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’s stock. According to data from MarketBeat, Semtech has an average rating of “Moderate Buy” and an average price target of $213.11.

Semtech Company Profile

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.