Texas Permanent School Fund Corp Buys New Shares in Semtech Corporation $SMTC

Texas Permanent School Fund Corp purchased a new position in shares of Semtech Corporation (NASDAQ:SMTC) in the second quarter, HoldingsChannel reports. The fund purchased 86,153 shares of the semiconductor company’s stock, valued at approximately $3,889,000.

Several other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Semtech by 7.9% in the first quarter. Wellington Management Group LLP now owns 2,313,213 shares of the semiconductor company’s stock worth $79,575,000 after purchasing an additional 170,132 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Semtech by 10.0% in the 1st quarter. Hsbc Holdings PLC now owns 11,630 shares of the semiconductor company’s stock worth $397,000 after buying an additional 1,062 shares during the period. Ameriprise Financial Inc. raised its position in Semtech by 15.8% during the 1st quarter. Ameriprise Financial Inc. now owns 6,445,641 shares of the semiconductor company’s stock worth $221,737,000 after buying an additional 877,422 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Semtech by 33.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 257 shares during the period. Finally, Quantitative Investment Management LLC boosted its holdings in shares of Semtech by 865.7% in the 1st quarter. Quantitative Investment Management LLC now owns 42,415 shares of the semiconductor company’s stock valued at $1,459,000 after acquiring an additional 38,023 shares during the last quarter.

Insiders Place Their Bets

In other news, CFO Mark Lin sold 971 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $72.83, for a total transaction of $70,717.93. Following the completion of the sale, the chief financial officer owned 17,844 shares of the company’s stock, valued at $1,299,578.52. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul V. Walsh, Jr. sold 500 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.24, for a total transaction of $33,120.00. Following the completion of the transaction, the director directly owned 26,779 shares in the company, valued at $1,773,840.96. This represents a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SMTC. Needham & Company LLC reissued a “buy” rating and set a $80.00 target price on shares of Semtech in a report on Tuesday, November 25th. Stifel Nicolaus set a $80.00 price objective on Semtech in a report on Wednesday, October 1st. Roth Capital upped their target price on Semtech from $65.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Morgan Stanley set a $67.00 price objective on Semtech in a research report on Tuesday, November 25th. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.50.

Semtech Stock Performance

NASDAQ SMTC opened at $71.01 on Friday. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 229.06 and a beta of 2.01. The stock has a 50-day moving average of $70.35 and a 200 day moving average of $58.74. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.87. Semtech Corporation has a twelve month low of $24.05 and a twelve month high of $81.32.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, November 24th. The semiconductor company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Semtech had a return on equity of 17.00% and a net margin of 2.77%.The business had revenue of $266.97 million during the quarter, compared to analysts’ expectations of $266.36 million. During the same period in the previous year, the business earned $0.26 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. Semtech has set its Q4 2026 guidance at 0.400-0.460 EPS. Sell-side analysts anticipate that Semtech Corporation will post -0.02 EPS for the current fiscal year.

Semtech Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.