Westfield Capital Management Co. LP Lowers Position in Semtech Corporation $SMTC

Westfield Capital Management Co. LP lessened its stake in Semtech Corporation (NASDAQ:SMTC) by 27.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,448,612 shares of the semiconductor company’s stock after selling 931,761 shares during the period. Semtech comprises approximately 0.8% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its 26th largest holding. Westfield Capital Management Co. LP’s holdings in Semtech were worth $180,438,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Daiwa Securities Group Inc. boosted its position in Semtech by 100.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,195 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 600 shares in the last quarter. State of Wyoming boosted its position in Semtech by 19.3% in the 4th quarter. State of Wyoming now owns 1,524 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 247 shares in the last quarter. TD Asset Management Inc boosted its position in Semtech by 44.2% in the 4th quarter. TD Asset Management Inc now owns 47,654 shares of the semiconductor company’s stock worth $3,512,000 after purchasing an additional 14,612 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in Semtech in the 4th quarter worth approximately $323,000. Finally, Norges Bank purchased a new stake in Semtech in the 4th quarter worth approximately $8,785,000.

Insider Transactions at Semtech

In related news, Director Martin Burvill sold 2,500 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $88.98, for a total value of $222,450.00. Following the completion of the transaction, the director directly owned 4,409 shares of the company’s stock, valued at approximately $392,312.82. This represents a 36.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,302 shares of company stock worth $2,518,002 in the last quarter. 0.48% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on SMTC. Morgan Stanley upped their price objective on Semtech from $155.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Craig Hallum upped their target price on Semtech from $105.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Oppenheimer set a $200.00 target price on Semtech in a research note on Wednesday, May 27th. TD Cowen reaffirmed a “buy” rating on shares of Semtech in a research note on Tuesday, February 24th. Finally, B. Riley Financial upped their target price on Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.73.

Semtech Stock Up 3.6%

NASDAQ SMTC opened at $169.35 on Friday. The business has a fifty day moving average price of $115.59 and a 200 day moving average price of $92.03. Semtech Corporation has a one year low of $37.03 and a one year high of $172.35. 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 company has a market cap of $15.77 billion, a P/E ratio of -434.23 and a beta of 2.32.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 EPS for the quarter, beating 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 firm had revenue of $291.00 million during the quarter, compared to the consensus estimate of $283.53 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s 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. Research analysts anticipate that Semtech Corporation will post 1.6 EPS for the current fiscal year.

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.