Granahan Investment Management LLC Sells 223,265 Shares of Semtech Corporation $SMTC

Granahan Investment Management LLC reduced its stake in Semtech Corporation (NASDAQ:SMTC) by 34.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 418,227 shares of the semiconductor company’s stock after selling 223,265 shares during the quarter. Semtech accounts for approximately 1.3% of Granahan Investment Management LLC’s investment portfolio, making the stock its 25th largest holding. Granahan Investment Management LLC’s holdings in Semtech were worth $30,819,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Argos Wealth Advisors LLC bought a new stake in shares of Semtech in the fourth quarter valued at approximately $640,000. Royce & Associates LP boosted its stake in shares of Semtech by 144.5% in the fourth quarter. Royce & Associates LP now owns 107,617 shares of the semiconductor company’s stock valued at $7,930,000 after buying an additional 63,603 shares during the period. Hodges Capital Management Inc. bought a new stake in shares of Semtech in the third quarter valued at approximately $4,624,000. GW&K Investment Management LLC bought a new stake in shares of Semtech in the third quarter valued at approximately $27,125,000. Finally, Atreides Management LP boosted its stake in shares of Semtech by 2.4% in the third quarter. Atreides Management LP now owns 678,133 shares of the semiconductor company’s stock valued at $48,453,000 after buying an additional 16,192 shares during the period.

Analysts Set New Price Targets

Several research analysts have commented on SMTC shares. Robert W. Baird boosted their price objective on shares of Semtech from $110.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Oppenheimer set a $200.00 price objective on shares of Semtech in a research report on Wednesday, May 27th. Needham & Company LLC boosted their price objective on shares of Semtech from $105.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Citigroup downgraded shares of Semtech from a “buy” rating to a “market perform” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings downgraded shares of Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, March 24th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.73.

Semtech Stock Down 7.3%

Shares of SMTC opened at $161.59 on Wednesday. Semtech Corporation has a one year low of $39.97 and a one year high of $177.35. The company has a market cap of $15.05 billion, a P/E ratio of -414.33 and a beta of 2.32. 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 firm has a 50 day simple moving average of $128.96 and a two-hundred day simple moving average of $97.34.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. The company had revenue of $291.02 million during the quarter, compared to the consensus estimate of $283.53 million. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Research analysts forecast that Semtech Corporation will post 1.81 EPS for the current fiscal year.

Insider Activity at Semtech

In other news, CEO Hong Q. Hou sold 2,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $90.11, for a total transaction of $180,220.00. Following the completion of the transaction, the chief executive officer directly owned 73,228 shares in the company, valued at approximately $6,598,575.08. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul V. Walsh, Jr. sold 500 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $138.21, for a total transaction of $69,105.00. Following the transaction, the director owned 23,279 shares of the company’s stock, valued at $3,217,390.59. This trade 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. In the last ninety days, insiders sold 25,160 shares of company stock valued at $2,227,705. 0.48% of the stock is owned by company insiders.

Semtech Company 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.