Northwestern Mutual Wealth Management Co. Invests $31.34 Million in Semtech Corporation $SMTC

Northwestern Mutual Wealth Management Co. bought a new position in shares of Semtech Corporation (NASDAQ:SMTC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 193,626 shares of the semiconductor company’s stock, valued at approximately $31,338,000. Northwestern Mutual Wealth Management Co. owned 0.21% of Semtech at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SMTC. Quantbot Technologies LP purchased a new stake in Semtech during the second quarter worth about $1,214,000. Callan Family Office LLC acquired a new stake in shares of Semtech in the 2nd quarter valued at $222,000. Heartland Advisors Inc. purchased a new stake in Semtech during the 2nd quarter worth about $7,861,000. Allworth Financial LP purchased a new stake in Semtech during the second quarter worth approximately $55,000. Finally, Virtus Advisers LLC acquired a new position in shares of Semtech in the 2nd quarter valued at $714,000.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho set a $225.00 target price on Semtech in a research report on Wednesday, May 27th. TD Cowen lifted their price objective on Semtech from $210.00 to $215.00 and gave the company a “buy” rating in a report on Monday, June 22nd. BMO Capital Markets assumed coverage on shares of Semtech in a research note on Thursday. They issued an “outperform” rating and a $155.00 price objective for the company. Susquehanna boosted their target price on Semtech from $170.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, May 27th. Finally, Zacks Research raised shares of Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Semtech currently has an average rating of “Moderate Buy” and a consensus price target of $189.47.

Insider Transactions at Semtech

In other news, EVP Jason Elliot Green sold 2,264 shares of the company’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 sale, the executive vice president owned 8,611 shares of the company’s stock, valued at $1,118,568.90. This represents a 20.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $127.80, for a total value of $1,086,300.00. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,734 shares of company stock valued at $3,133,986 in the last three months. 0.44% of the stock is owned by company insiders.

Semtech Trading Down 0.6%

NASDAQ SMTC opened at $124.09 on Friday. Semtech Corporation has a 12 month low of $49.04 and a 12 month high of $177.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.37 and a quick ratio of 1.62. The company has a 50-day moving average of $137.87 and a 200-day moving average of $117.45. The company has a market cap of $11.56 billion, a P/E ratio of -318.18 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 analysts’ consensus estimates of $0.45 by $0.06. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The company had revenue of $291.02 million for the quarter, compared to the consensus estimate of $283.53 million. During the same quarter last year, the firm posted $0.38 earnings per share. Semtech’s revenue was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. As a group, equities analysts predict that Semtech Corporation will post 1.81 earnings per share for the current 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.