Semtech Corporation $SMTC Stock Sold by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. cut its holdings in shares of Semtech Corporation (NASDAQ:SMTC) by 32.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the semiconductor company’s stock after selling 12,000 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in Semtech were worth $4,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SMTC. Andar Capital Management HK Ltd purchased a new stake in shares of Semtech during the second quarter worth about $162,000,000. BlackRock Inc. purchased a new position in Semtech in the second quarter valued at about $1,577,947,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Semtech by 396.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,125 shares of the semiconductor company’s stock valued at $136,298,000 after purchasing an additional 672,447 shares during the last quarter. Jennison Associates LLC grew its stake in Semtech by 15.6% during the 1st quarter. Jennison Associates LLC now owns 744,380 shares of the semiconductor company’s stock valued at $57,235,000 after purchasing an additional 100,552 shares in the last quarter. Finally, Atreides Management LP acquired a new stake in Semtech during the 2nd quarter valued at approximately $89,214,000.

Insiders Place Their Bets

In other Semtech news, Director Julie Ruehl sold 1,500 shares of Semtech stock in a transaction on Friday, September 4th. The stock was sold at an average price of $145.00, for a total transaction of $217,500.00. Following the sale, the director owned 7,140 shares of the company’s stock, valued at $1,035,300. The trade was a 17.36% decrease in their position. The sale was disclosed in a legal 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, Director Rodolpho C. Cardenuto sold 5,321 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $165.00, for a total value of $877,965.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 14,237 shares of company stock worth $2,337,597. 0.44% of the stock is owned by company insiders.

Semtech Price Performance

NASDAQ SMTC opened at $127.42 on Wednesday. The company has a 50-day moving average price of $157.25 and a two-hundred day moving average price of $125.18. Semtech Corporation has a 52 week low of $60.28 and a 52 week high of $201.99. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 84.38 and a beta of 2.50. The company has a current ratio of 1.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Tuesday, August 25th. The semiconductor company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. The company had revenue of $341.87 million for the quarter, compared to analysts’ expectations of $328.67 million. Semtech had a return on equity of 21.74% and a net margin of 13.11%. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. Semtech has set its Q3 2027 guidance at 1.020-1.080 EPS. Analysts forecast that Semtech Corporation will post 2.80 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SMTC. Zacks Research upgraded Semtech from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. Northland Securities upgraded Semtech from a “market perform” rating to an “outperform” rating and set a $186.00 target price for the company in a research note on Friday, October 16th. Weiss Ratings raised shares of Semtech from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, October 21st. Stifel Nicolaus dropped their price target on shares of Semtech from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Finally, Morgan Stanley set a $205.00 price target on shares of Semtech in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $213.11.

Semtech Profile

Semtech Corporation (NASDAQ:SMTC) is a global semiconductor and infrastructure technology company that develops analog and mixed-signal products for communications, industrial, data center, consumer, and automotive applications. Its portfolio is designed to improve connectivity, power efficiency, signal integrity, and protection in electronic systems.

The company’s products include high-speed connectivity solutions for data centers and communications networks, power management and protection devices, signal integrity components, and wireless and radio-frequency technologies.