Hodges Capital Management Inc. Has $6.88 Million Holdings in Semtech Corporation $SMTC

Hodges Capital Management Inc. grew its stake in Semtech Corporation (NASDAQ:SMTC) by 8.7% in the first quarter, HoldingsChannel reports. The fund owned 89,525 shares of the semiconductor company’s stock after acquiring an additional 7,202 shares during the period. Hodges Capital Management Inc.’s holdings in Semtech were worth $6,884,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SMTC. Abel Hall LLC increased its holdings in shares of Semtech by 15.8% in the first quarter. Abel Hall LLC now owns 4,291 shares of the semiconductor company’s stock valued at $330,000 after purchasing an additional 586 shares in the last quarter. Stephens Inc. AR lifted its holdings in Semtech by 18.3% during the 1st quarter. Stephens Inc. AR now owns 5,216 shares of the semiconductor company’s stock worth $401,000 after buying an additional 806 shares in the last quarter. Sierra Summit Advisors LLC bought a new position in Semtech in the 1st quarter valued at $459,000. Leonteq Securities AG boosted its position in Semtech by 11.2% in the 1st quarter. Leonteq Securities AG now owns 1,171 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 118 shares during the last quarter. Finally, Strs Ohio boosted its position in Semtech by 5.0% in the 1st quarter. Strs Ohio now owns 50,500 shares of the semiconductor company’s stock valued at $3,883,000 after buying an additional 2,400 shares during the last quarter.

Semtech Stock Performance

Shares of Semtech stock opened at $135.27 on Monday. The firm has a fifty day moving average of $144.68 and a two-hundred day moving average of $104.54. 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 stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of -346.85 and a beta of 2.31. Semtech Corporation has a 52 week low of $42.42 and a 52 week high of $177.35.

Semtech (NASDAQ:SMTC) last posted 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. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The business had revenue of $291.02 million for the quarter, compared to analyst estimates of $283.53 million. During the same period last year, the company earned $0.38 EPS. The firm’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 research analysts predict that Semtech Corporation will post 1.81 EPS for the current year.

Insider Buying and Selling

In other Semtech news, Director Martin Burvill sold 2,500 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $88.98, for a total transaction of $222,450.00. Following the transaction, the director owned 4,409 shares in the company, valued at approximately $392,312.82. This trade represents a 36.18% 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. Also, insider John Michael Wilson sold 5,500 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $170.00, for a total value of $935,000.00. Following the completion of the sale, the insider directly owned 80,876 shares of the company’s stock, valued at approximately $13,748,920. This trade represents a 6.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,500 shares of company stock worth $1,866,435 in the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SMTC has been the subject of a number of recent research reports. Oppenheimer set a $200.00 target price on Semtech in a research report on Wednesday, May 27th. Craig Hallum raised their price target on Semtech from $105.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Needham & Company LLC lifted their price objective on Semtech from $105.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Roth Mkm boosted their price objective on Semtech from $102.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Benchmark upped their target price on shares of Semtech from $120.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $189.07.

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.